Next Game

Exeter v Portsmouth

Saturday, 09 August 2014, 15:00

Sky Bet League 2

Chainrai suspends Pompey offer

Balu Chainrai has criticised Portsmouth administrator Trevor Birch after suspending his offer to repurchase the club.

Last Updated: 09/11/12 at 13:27 Post Comment

Balu Chainrai: Warning over Portsmouth Supporters' Trust

Balu Chainrai: Warning over Portsmouth Supporters' Trust

Chainrai's Portpin company has been left looking on from the sidelines since Birch, of administrators PKF, named the Portsmouth Supporters' Trust as the club's preferred bidder in mid-October.

The PST, though, is yet to be approved as a suitable owner by the Football League, and Chainrai claims there is "a very real risk Portsmouth Football Club will end up being liquidated."

Portpin's bid - "ready to complete within a matter of days" - is now suspended pending a Football league decision, and the former owner claims the only people benefiting from the delay in agreeing a sale are Birch and PKF.

A statement from Portpin, initially named as preferred bidder, said the company's relationship with Birch broke down "immediately after it became clear (we) would challenge the unreasonably high fees of the administration.

"PKF's initial promise of running a relatively inexpensive operation has proved false, as this is now the most expensive administration in the history of English football, with little or no benefit to either Pompey fans or creditors."

Chainrai has also warned Portsmouth fans the PST's offer may be hijacked by property developers out to get their hands on Fratton Park - the stadium Portpin currently holds as security on unpaid debts.

He said: "Pompey fans should be in no doubt that in my opinion they are being manipulated here. Behind the PST bid are a number of property developers who now appear to be becoming the majority stakeholders.

"I believe their interest in buying the club is to secure the land. The illusion of the Trust owning Fratton Park is just that: an illusion."

Birch, and PKF, have yet to comment on Portpin's statement.

Related News

Most Commented

Readers' Comments

I

am jealous but i do wonder why he's never done anything for barca and why they seemingly don't give two hoots that he's leaving. they clearly rate suarez more than him, that much is inarguable

bobsy
Sanchez Is A Game-Changer For Arsenal...

L

uis Suarez: on his way to Barcelona. Liverpool : on their way to the Conference.

wotyomamased
Liverpool agree sale of Suarez

D

aryl Janmaat, a cheaper alternative to Micah Richards? World Cup semifinalist versus Man City's backup, England's... what, fifth choice right back? That really hammers home the English premium.

harry hotspur
The Blank Gossip

Footer 365

World Cup: Luiz Felipe Scolari dismissed as Brazil coach according to local media

The CBF has decided not to renew the contract of national coach Luiz Felipe Scolari, according to media reports.

World Cup: Joachim Loew believes Germany can build a footballing dynasty

Joachim Loew believes Germany's World Cup final victory is a tribute to the way their domestic game is run.

World Cup final: Mario Gotze scores in extra-time as Germany beat Argentina 1-0

Germany won the World Cup final for a fourth time after Mario Gotze's extra-time volley sealed a 1-0 win over Argentina.

Mail Box

Alexis Sanchez: Really Not THAT Good

The backlash has begun: Why are Barca letting him go if he's any good? We have mails on Alexis Sanchez, Luis Suarez, the World Cup and the wonder of F365...

Stop Your Sobbing And Man Up...

Oh and honey, put the kettle on. We have more World Cup mails but it's mostly an orgasmic explosion at the signing of Alexis Sanchez. Could this be Arsenal's year?

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property