It's believed that Gaydamak rejected the bid because it was too low, despite the fact that Vega would also take on the club's reported debts of £40 million. Now Sacha has given Vega a week to make an improved offer though the rumours are that the ex-Spurs defender will refuse to up his bid.
There would be question marks over Vega's financial muscle if he did complete a takeover as many Pompey fans don't believe he or his company are minted enough to provide a significant investment into PFC.
He may have the best intentions at heart being an ex-pro and knowing the game far better than most owners of football clubs but the bottom line is that if we don't have money then our better players will leave because of the lack of ambition at the club, meaning it would also be harder to replace them.
Sacha said he wouldn't sell unless he was certain that he was leaving the club in the hands of someone who could fulfil the new stadium dream and the other projects as well. Therefore he must have seen something in Vega's bid to deter him from accepting it.
But the longer Sacha stays as owner, the longer the club is going to be starved of any significant financial investment and the debts will continue to increase unless more players leave the club.
I'm sure we'd love the situation to be resolved in the near future but I have a feeling any takeover is still a long way off.