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

T

he thing is, footballers are role models, and children are influenced by them. I watched the Chelsea game with my 6 year old, and at school the next day she stamped on Emre Can.

megabrow (cufc)
Diego Costa: The Patron Saint Of S**thousery

Y

et again Barcelona try to convince the world that they only play the most virtuous of football. I've never seen a team so willing and able to dish out lumps but feel so self-righteous that no opposition player should ever have the audacity to tackle them.

charsmatcengma
Enrique hauls Neymar to safety

I

d love to see a United v Liverpool FA cup final. It would certainly fit the narrative. Obv I'd want the ending to be one of an O.G. and tears as he collects his runner-up medal.

GVMUFC
Gerrard Constantly Searching For That Final Hurrah

Footer 365

Brendan Rodgers: Daniel Sturridge can shine new light on revamped Liverpool

Brendan Rodgers expects the imminent return of "reference point" Daniel Sturridge to help Liverpool push for a top-four place.

Premier League: Arsenal top scorer Alexis Sanchez a doubt for Super Sunday game against Aston Villa

Arsenal could be without Alexis Sanchez for their Super Sunday game against Aston Villa this weekend.

Transfer News: Chelsea look to sell Andre Schurrle to Wolfsburg , free up funds for Juan Cuadrado bid

Chelsea are in talks with Wolfsburg for the possible sale of Andre Schurrle in a move to sign Juan Cuadrado.

Mail Box

It's A Massive, Big, Brilliant Mailbox

And we left lots of Suarez/Costa mails unopened. What we do have is a video of some rotten Suarez tackles and views on the future of football, Spurs, Liverpool and...

But Biting Doesn't Hurt Like Stamping...

There are Liverpool fans arguing that Luis Suarez is nowhere near Diego Costa's sh*t-house league but we have plenty of love for the agitator too. Oh and Spurs...

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