Chainrai stands firm on Pompey

Balram Chainrai is refusing to give up hope of becoming Portsmouth owner again despite the club's administrators agreeing a sale with the Pompey Supporters' Trust.

Last Updated: 15/11/12 at 23:04 Post Comment

Balram Chainrai: Determined to fight on in his takeover bid for Portsmouth

Balram Chainrai: Determined to fight on in his takeover bid for Portsmouth

The deal is conditional on the purchase of Fratton Park, over which Chainrai's investment firm Portpin still has legal control of after it was used as security for a £6m loan to the club.

Portkin has rejected an offer from PST to purchase the stadium, with Chainrai claiming the fans' group's plans to sell the stadium would place further financial pressure on the club in the future.

Trevor Birch, PFK partner and joint administrator of the club, confirmed that an agreement had been reached with PST and that an application has been submitted to the court for permission to sell Fratton Park.

However, Chainrai said in a statement: "We still believe our bid remains the best offer for the future of Portsmouth Football Club.

"We remain ready to complete the deal in a matter of days, should the Trust be unsuccessful. That is our intention, and despite ill-informed gossip to the contrary, the Football League have not rejected our application.

"We have satisfied the Football League regarding our business plan and cash requirements and we have answered all other questions regarding the Owners and Directors' test.

"The Trust's bid is conditional on securing a deal to flip Fratton Park and sell it to property developers.

"The money raised from that sale is vital to fund their bid and yet the rental agreement will ratchet up costs and put the club under more pressure every year that goes by.

"We believe that keeping Fratton Park under the ownership of the club - which our bid guarantees - is of paramount importance to the future of Portsmouth Football Club if it is to remain at the heart of the community."

Related News

Most Commented

Readers' Comments

I

think Finnegans Wake would have been a better reference point than Ulysses. Far more rambling and incomprehensible.

debra2927
Football People On TV: Garth Crooks

I

f I recall correctly, Degsy predicted a 100/1 shot correctly the week after his 150/1 Blackpool 4 - 3 Bolton call. I stuck a fiver on it as an idle bet. Paid for a stag do in Munich. Heady days...

baldini
Backing Hull To Beat United 2-1...

R

odgers prefers Joe Allen to Lucas? If this is true then I'm setting aside a fortnight to finally learn the rules of American Football and I'll give up on real football.

godzilla
The Jammy Gossip

Footer 365

QPR's Rio Ferdinand is astounded by reaction to his wife's death

QPR defender Rio Ferdinand has been astounded by the levels of support he received following the death of his wife.

Raheem Sterling would interest Manchester City – Sky sources

Manchester City would be interested in signing Raheem Sterling if he were to become available, according to Sky sources.

Alan Pardew not sure Crystal Palace can match fine season in 2015-16

Alan Pardew says it is going to be difficult to repeat Crystal Palace's sensational second half of the season when the 2015-16 campaign starts.

Mail Box

Only One Real Manager Of The Year

Winning the Premier League with the best squad in the Premier League is only par; Ronald Koeman did a whole lot better. Plus, the last word on Raheem and...

Don't Slate Sterling For Ambition...

Raheem Sterling deserves credit for his desire to quit Liverpool, according to one mailboxer. Also: why football should not be compared to business and Degsy's latest spot of bother...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company