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

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

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.

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

t's wrong to be making a joke out of Bender's name at the expense of gay people. It's the kind of childish, uncivilised thing that Football365 would deride and ridicule if it was another media outlet saying. Why is there a need for jokes like this? Does it make your writers feel like men? F365 might suggest that I 'lighten up', but it is genuinely traumatic for people who have been oppressed all their lives to be the butt of jokes, and to be told...

anamsport
The Beeriod Gossip

Y

ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

rodger's gusset
Van Gaal downbeat on De Gea

I

f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

foot in mouth
Adebayor & Berbatov: You Have To Admire The Balls

Footer 365

Arsenal 1 Chelsea 0: Gunners win Community Shield

Alex Oxlade-Chamberlain scored as Arsenal won the Community Shield with a 1-0 victory over Chelsea, with Arsene Wenger finally beating Jose Mourinho.

Angel Di Maria poised for medical ahead of move to PSG

Angel Di Maria is set to undergo a medical with Paris Saint-Germain in Doha on Monday ahead of a proposed £44m move from Manchester United.

Mourinho plans to manage into his 70s

Chelsea boss Jose Mourinho believes he is a better manager than he was 10 years ago - and he wants to continue until he's in his 70s.

Mail Box

Neville Has It Wrong On Chelsea...

One Mailboxer says that the Neviller has it slightly wrong on Chelsea. Plus thoughts on sexy Saints, pre-season reviews, Connor Wickham and televised analysis...

De Gea Disrespectful? Remember RVP...

We got dozens of mails from people pointing and laughing at Brian D for suggesting David de Gea has acted disrespectfully; we printed some. And there's more...

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