Saints’ takeover hopes are hanging in the balance after Katharina Liebherr and potential new owner Gao Jisheng met with Premier League officials to try and get the green light for a £210m deal.

The Daily Echo understands that Liebherr and Jisheng attended a meeting without an army of lawyers to plead their case that a deal to sell 80 per cent of the club to Lander Holdings should be allowed to go through.

They must now await a final verdict which will decide whether Jisheng will pass the so-called fit and proper persons test to be given clearance to complete the purchase.

The Premier League have reportedly expressed concerns about Jisheng, with a number of allegations having been made about his previous conduct by Chinese media.

It is believed that Jisheng has strenuously denied the claims, and was open to discussing funding of the deal, after that was questioned in some quarters.

Liebherr and her representatives have been completing their own due diligence on Lander and Jisheng, and are thought to have already looked into the allegations.

They were satisfied by the answers provided, and so have been prepared to push forward with the process.

There is thought to be some frustration upon the part of the potential Chinese investors that it has come to this, with a feeling that there have been attempts to scupper the deal, which helped nudge the Premier League towards this final showdown.

It does not appear to have dampened Lander’s enthusiasm for going through with the deal, but that will only happen if the Premier League approve it. If they do not the deal will collapse, and a legal process could follow.

With the negotiations completed and the details having been ironed out, there is believed to be a concrete agreement in place ready to be actioned if the approval arrives, and assuming Lander can provide the required funds.

Though there have been other interested parties, at this stage Lander are believed to be the most advanced, and any fresh investor would require a certain amount of time to get the business done.

Liebherr’s representatives have been inundated with contact from middlemen trying to broker deals with potential investors for a long while, but it has taken the Saints owner time to settle on Lander as a company she is prepared to sell a majority stake to.

It makes financial sense for Liebherr personally. She inherited the club from her late father Markus, and has tried to stay true to his vision for Saints.

Of the £69m the Liebherr family have invested in Saints, some £15m was actioned by Markus, including the original purchase from administration, with the remaining £54m all financed by Katharina.

Some of the total has effectively been written off, while about £30m sits in the club as a loan which Liebherr has not asked to be paid back.

With a total worth estimated to be in the region of £300m-£400m, Liebherr would not be able to fund the kind of lavish transfer spending the club would need to take the next step forward, both on and off the pitch.

It is that realisation that has convinced Liebherr to sell a portion – while keeping 20 per cent to try and ensure she can get involved with any issues – but she has been cautious over who she would sell too, knowing Markus would only want the club to continue to grow and progress.