An article posted earlier today on one poker news site asserted, “The potential purchase of Tiltware (Full Tilt Poker) by Groupe Bernard Tapie is almost at an end, with certainly the conclusion being ‘no deal.'” After doing its own due diligence on Monday, PocketFives.com can confirm that the acquisition of Full Tilt Poker, once the second largest online poker site in the world, is anything but dead. Full Tilt Poker’s counsel told PocketFives.com that the deal being dead would be “news to me.”

Despite confirming the news that sale negotiations are still very much alive, the same Full Tilt Poker lawyer declined to outline specifics, telling PocketFives.com on Monday, “I can’t comment on any negotiations. Those are really sensitive. It’s really important that the negotiations remain confidential.” Two sources close to Full Tilt independently confirmed that sale talks continue.

Full Tilt personnel are involved in two negotiations right now. One is with Tapie, which announced 10 days ago that it would conditionally acquire the assets of Full Tilt Poker. Group Bernard Tapie has a history of turning around companies, with its claim to fame being the sporting giant Adidas.

Laurent Tapie, Managing Director of Groupe Bernard Tapie, met with officials from the U.S. Department of Justicelast week to try to come to an accord. The DOJ previously called Full Tilt Poker a “global Ponzi scheme” and assessed the site a fine following Black Friday. PocketFives.com has learned that Tapie will continue discussions with the DOJ on Tuesday in New York. Last week’s talks reportedly went “well.”

We’ve had plenty of players ask how much time will pass until they’ll be reunited with their bankrolls, which have been frozen on Full Tilt ever since the Alderney Gambling Control Commission (AGCC) suspended the site’s license in late June. Remember, the AGCC formally revoked Full Tilt’s gaming license on September 29th. All the while, Full Tilt continues to amass expenses that are quickly eating into its operating budget.

PocketFives.com can confirm that a deal between Tapie and Full Tilt could be finalized in as little as a month, although that time frame is, like anything in the business world, subject to change.

Last week, a Wall Street Journal article revealed that the Full Tilt Poker sale could include several ways to make the acquisition less cash-heavy for Tapie. The global news outlet explained, “The Tapies may address Full Tilt’s liabilities by offering equity in a revived company to poker players owed the most money. The family is also seeking new investment from the site’s existing owners, who wouldn’t be involved in managing the company. The Justice Department would have to agree to allow these owners to continue with the company.”

A variety of posters took exception to the latter fundraising method, with PocketFives Elite member wackyJaxon arguing, “I don’t see how this would be acceptable to 95% of the people that have money on the site. I am disappointed with this suggestion.” Another player mulled, “Hopefully this fiasco gets ironed out. I would love to get my money back, but I really don’t see this happening. If companies are able to rob pensions from employees, surely this falls into a similar category.”

Last Thursday, Subject: Poker published an article revealing that, according to sources, “a clause requiring that an outside independent entity be appointed to protect the current and future assets of the poker site” is included in the conditional sale. According to the site, “GBT intends to appoint a chief restructuring officer (CRO) who will, in effect, replace the current Board of Directors of Full Tilt Poker.” Votes from Tiltware shareholders are required to ratify the sale and the appointment of a CRO.

Needless to say, player refunds are the top priority for many in the industry. Late last week, the Poker Players Alliance e-mailed its members to say, “It is my hope that the Justice Department will, once obtaining iron-clad guarantees of repayment from any party wishing to purchase Full Tilt Poker, work to fast-track settlement of all outstanding issues. As the DOJ has identified players as the victims in all of this, I expect they will welcome a settlement that addresses player restitution.” The DOJ originally said that the process of repaying players could take several months.

Stay tuned to PocketFives.com for the latest news from around the online poker industry.