Portsmouth FC today issued an official statement of the club's website informing fans that they were about to enter an "Exclusivity Agreement" with Michael Eisner over the potential sale of the club.

The fan-owned club's shareholders will be presented with a final offer from Michael Eisner's Tornate Group after a period of 70 days and the shareholders will be asked to vote on whether the deal should go ahead or not.

The Exclusivity Agreement period in the next 70 days is so that Portsmouth can negotiate with Eisner and his Tornate Group and undergo a due diligence procedure to ensure that his intentions for the club are wholehearted.

Because they have entered into exclusive talks, Portsmouth will not entertain any bids from other sources for the next 70 days.

Michael Eisner, former CEO of Disney, took to Twitter to express how this was "exciting times".

Portsmouth fans were a mixture of excited and apprehensive about this news.

Here are a selection of the best fan reaction tweets following this announcement.