Miland Development 2004 Ltd, a company owned by former Pompey owner Sacha Gaydamak, has been placed into administration.
This means that the land outside Fratton Park, valued at around £2 million, is now up for sale as Miland administrators seek to do a deal with Pompey's administrators which could see that land come as part of any deal to buy Portsmouth Football Club.
Being prime development land, there is a possibility that the club may become a more attractive prospect for prospective buyers which may be an alternative to Portpin or the PST.
Of course, the nightmare scenario of Chainrai buying the club and holding a charge on the land could now also happen, making the club even more difficult to sell in the future.
There is a stumbling block in any deal that may be made for the land, as Baker Tilly, the company investigating the finances of the old Portsmouth FC company, claim that Gaydamak is not the legal owner of the land anyway.
Despite that, it seems a deal may well be done in the future and Portsmouth Football Club will gain a valuable asset.