Current favourite is that it's going to be sunk just outside the 200 mile limit (south west of Cornwall). Apparently, it won't make it as far as the nearest breakers in Norway.
All the cargo was removed and is being sorted/scrapped/sent on at Portland Port. They are still working that part.
The hull is being patched and prepared for re-floating. It should be ready for floating in a few days.
The problem is what to do with it. The plan to tow it to a ship breaking yard in Norway was turned down. It is a big ship and there are not many places that can handle it. One reason was that the tow up the North Sea was considered just too risky. The hull is weak and might not survive the journey - leading to everyone starting the salvage again but at a new location.
I understand the current thinking is a tow out to the West and a deep water sinking. Obviously dismantling in place has been considered but I think that will be very expensive and might make more mess. The Tricolour was sawn into chunks on site and then taken away but that was blocking the Dover Straits (the car carrier - which 3 other vessels then hit in the weeks after it sank).
I believe the final decision will have to be made at Ministerial level - and that has been subject to a recent delay caused by an abscence of Minister. In theory the decision is to be made very soon.
Put your money on a tow to the west and deep sinking, after a delay while the new Minister slowly comes to a decision. (And then don't blame me if you lose your bet.)
Devon Council have a good page with all the latest;