He may only be 21, but Tom Lever has emerged as a potential Pompey owner.

The News can reveal the Manchester businessman has spent the past fortnight in negotiations to take over the club ahead of Balram Chainrai.

As it stands, Chainrai's company, Portpin, have exchanged ownership contracts with view for completion on September 9.

But Mr Lever has offered 16.2m to the Hong Kong businessman to buy him out before that date.

The entrepreneur, also intends to purchase land around Fratton Park owned by Sacha Gaydamak and Sellar Property Group.

This would allow him to explore existing plans centring on the redevelopment of the stadium.

Administrator Andrew Andronikou was shown a letter detailing Mr Lever's proof of funds 10 days ago.

A team of advisors also held initial meetings with Portsmouth City Council leader Gerald Vernon-Jackson a fortnight ago.

If successful, the entire takeover would total 30m.

Mr Andronikou has revealed the entrepreneur is the only alternative to Chainrai at present.

And Mr Lever and his team are hoping to thrash out an agreement within the next week.

An advisor close to Mr Lever said: 'We have recently arranged a financial agreement with the lenders and submitted proof of funds to this effect to Portsmouth Football Club.

'We are looking at other options put forward to us to allow us to complete sooner, therefore giving us more time before the transfer window closes.'

The potential takeover has moved at breakneck speed.

That represents encouraging news for Pompey fans after Rob Lloyd's faltering attempt, which has so far taken seven months.

Mr Lever brought his proof of funds together in just six days - a stage Mr Lloyd has not even managed to reach.

The News understands Mr Lever met with Mr Chainrai and Portpin partner Levi Kushnir at the Churchill Hotel in London's West End on August 13.

A letter providing proof of funds was presented to Andronikou later that night upon the administrator's request.

Mr Lever and his team held further talks with Mr Chainrai and his lawyer Levi Kushnir within hours of the pair attending the 1-1 draw with Reading on August 14.

Held at Heathrow Airport's Terminal 5 ahead of the duo leaving to return to Hong Kong, talks are believed to have been positive.

Negotiations have been on-going.

Speaking from Cyprus last night, Mr Andronikou acknowledged Mr Lever's ownership bid.

However, he remained cautious of whether they will be successful.

He said: 'At the moment, Mr Lever and Portpin are the only interested parties.

'However, Portpin remain the preferred option that will take this club a step forwards and the contracts have already been exchanged.

'While we welcome interest from potential buyers, we need to be satisfied.

'As it stands, Mr Lever needs to show some money.

'We have met and, after much debate and debacle, they provided me with a letter showing a bridging loan facility from a sub lender.

'However, there were also 401 conditions attached to it.

'Last week I asked for money to be put into their lawyer's bank account -and we are still waiting for that to happen.

'Once the funds are sitting on the table then we can move on. I have been there too many times.

'There have been lots of interest allegedly with people then not coming up to scratch.

'I don't want that to happen again. I need to see their money before anything else.'

HE MAY BE YOUNG, BUT HE'S ALREADY GOT A FORTUNE

Tom Lever may be aged just 21, yet has already amassed a vast fortune.

Based in Manchester, the entrepreneur has made his money chiefly from development.

His father is David Lever, also heavily involved in development, who was declared bankrupt in July.

But Tom Lever says it is strictly him involved in the takeover at Pompey.

A keen football fan, Pompey represents the investment which interests him most and the potential which accompanies it.

The possibility of building a new stadium is also an attraction as he looks to follow a 10-year plan to resurrect the club's fortunes.

Away from business, Lever featured in an MTV programme in 2007 called Living on the Edge.

It followed the lives of a group of mega-rich teenagers in the affluent town of Alderley Edge in Cheshire.

He still lives in the area, overseeing his thriving business interests.

Lever is now hoping his move to own Pompey can be sealed ahead of the transfer window closing on August 31 as he looks to provide backing.

TIMELINE

Pompey have been without an owner since being put into administration on February 26.

That action was taken by previous owner Balram Chainrai, with UHY Hacker Young appointed as administrators.

However, he has long remained 'Plan B' according to Andrew Andronikou, one of a trio of administrators charged with steering the club forwards.

Over the past eight months, Rob Lloyd has been the sole alternative to Chainrai in terms of seizing ownership.

The Cheshire businessman even met with Blues fans on March 14.

Despite his maintained interest, though, he has struggled to come up with the required proof of funds.

Having now obtained their CVA following the HMRC's failed appeal, Chainrai is in the frame to step up his takeover on September 9 with it being finalised a week later.

Yet that could change with Lever on the scene.