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.

TEAMtalk Facebook Fan Page

The TEAMtalk fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Most Commented

Readers' Comments

H

ilarious, thanks for that. But if I may, I do suspect the reason of your partners' ire is not Tottenham, but most probably all the compusilve gambling :)

DannySmith
Backing Costa To Keep Banging 'Em In

T

wo police horses in a paddock. Horse 1: What's with the long face? Horse 2: I'm working St James Park this weekend.

hump3.
Pardew braced for protests

T

wo things. First, I can't stop reading your name as 'Dane Bowers'. Second, you used the words 'philosophy' and 'Redknapp' in the same sentence.

ajsr1982
Can United's Defence Handle Ulloa?

Footer 365

Championship: Norwich investigate claim of homophobic abuse

Norwich are investigating an allegation of homophobic abuse during their Championship game with Birmingham City.

Juan Mata apologises for Manchester United's shock defeat to Leicester

Juan Mata has apologised to Manchester United fans after the team's embarrassing capitulation at Leicester on Sunday.

Premier League: West Ham's Diafra Sakho relishing Enner Valencia link-up

Diafra Sakho reckons West Ham can spring a few more surprises in the Premier League this season.

Mail Box

Will Rodgers Finally Drop Gerrard?

The mailbox wants to know if Brendan Rodgers has the stones to drop Steven Gerrard. Plus, thoughts on Wayne Rooney's display, sitting down, and thanking United fans...

Clattenburg And Assistants Should Be Suspended

It's a Mailbox containing Manchester United fans taking defeat to Leicester pretty well, plus some long thoughts on Gerrard and Liverpool, plus Southampton congratulations...

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