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Pompey under NEW ownership AGAIN!?

So, I get up from a brief kip - taking into account that my train back from London did not get back into Plymouth until 5am, and by the time I got a bus back to my place it was around 6.30am - to find, not that it is all over the shop that Pompey have been taken over AGAIN...

Balram Chainrai, the Hong Kong businessman that has loaned the club £20m, apparently, has 'seized control, subject to passing the Premier League fit and proper person test,' through his company Portpin, along with his Israeli partner Levi Kushnir.

There was something breaking on this news late on Wednesday, but with Chainrai said to be 'angered by Portsmouth's failure to make the repayments, despite Portpin continually extending the deadlines' and as his 'patience ran out on Wednesday' he has moved in...

Speaking to The Guardian he said: 'Portpin have made substantial loans to Portsmouth to try and ensure the club's future.

'Portpin will [now] continue to work for the best interests of the club.'

'To help Portsmouth succeed we need the support and understanding of Her Majesty's Revenue to work out a solution.'

Although a 'Pompey board insider' has been talking to ESPN Soccernet denying this suggestion: 'it is not clear what is happening as there is now a dispute. I don't think either side has fully complied with the agreement upon which loans were made to the club.

'Chainrai has a charge on the property, not a charge on the club, so I would say that he is not the owner of the club, nor is he seeking to be.'

Nothing is being said officially - now there is a surprise, so in many ways none of us are one any the wiser I must say...

But, and working on the assumption that this has happened, you would HOPE that these guys cannot be any worse than Ali Al Faraj and co, fingers crossed although this is seen as a 'short-term' move, he has come in to make sure that we get debts sorted out and we settle the issue with HMRC.

It does seem that it is in his best interests to have done this, some 'stability' will come, at least in the short-term...


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Thursday February 4 2010

Time: 10:11AM

Your Comments (oldest first)

Change to most recent first
My understanding is BC is in it for the short term. To protect his investment. No doubt his spat with Gadymak snr will roll on. BC wants to sort a deal with HMRC. Bring stability off the pitch which we hope will bring it on the pitch. Storrie back in control, Jacobs out. Got to be good thing if BC can keep us out of administartion.
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04/02/2010 10:18:00

BBC sports news correspondent Gordon Farquhar said: "He is understood not to be interested in a long-term ownership, just averting the current crisis." Chainrai's company Portpin may sell the club before the end of the season. A Pompey spokesman said: "Portpin have exercised a clause in their contractual agreement to take a controlling interest. They are taking control on a temporary basis to allow new owners to be found. "Portpin's aim is to come in and stabilise the club, sort out the business with the winding-up order from HMRC and sell it on to new owners. "New directors will be appointed to the board and Peter Storrie will remain as chief executive and will be running the club."
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04/02/2010 10:23:00

Couldnt give a F**k any more who owns us its just another name for the short term im just fed up with it all. none of them are interested in PFC as a club thier only interested in what they can make out of us & move on . id rather be in CC league with an owner thats interested in our Club. lets hope they keeps us out of administration . but thats all the good that will come out of it.
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04/02/2010 10:33:00

so...good thing or bad thing? :)
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04/02/2010 10:34:00

Lets just hope the best interests are not to buldose Fratton park and stick a load of flats on it. If BC can sort out HRMC and keep us afloat til end of season then great. Hopefully if we are still in the PL, then we will hopefully be more viable for a decent takover with some one with actual money.
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04/02/2010 10:43:00

Perhaps we are going for some kind of record of the number of owners in a season! Life is not boring as a Pompey fan. Is it a good thing though? Who knows?
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04/02/2010 11:10:00

Tbh at first site this seems a good thing lol comforting to know we aren't the only ones to not know who al miraj is
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04/02/2010 11:17:00

So is that the end of that convicted fraudster/shyster and Ali Bongo 'Lord Lucan' Faraj that have been *****ing us up? A lot of people have got a lot to answer for, including the Premier league. Fit and Proper, my ar$e!
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04/02/2010 11:35:00

Rug, I was under the impression that the club had 2 secured loans from BC. one for the football stadium, the other for PFC as an ongoing entity, therefore if both have been defaulted, this would make him the de-facto owner...............as predicted by..........oh yeah, me !!!!! still too many twists and turns to come on this one however, but anything that gets rid of jacob and the mirage can't be all bad, they had burnt too many bridges. PUP
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04/02/2010 11:39:00

I watched tis come in last night on the webb, on this site and other were full of it as articles were posted and then withdrawn by the guardian-an eagle eye on another sight noticed thatthe date was wrong on the first onw... Hm..nitty gritty...I hope i am wrong, but it all sounds far too convenient to me...HMRC next week and all... It seems that Arcady Gaydamak was our real owner and this guy has a spat with him...is there any road in this connection.?...My fear is that it is all one big scam to remove Portsmouth FC from the land and develop ground that is left...Faraj runs it into the ground BC collects his debts..the land..and builds a supermarket..I have thought this through and am on lunch break so have to just scan it in with out any real detail...but I may be wrong...please.
plymouth graham
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04/02/2010 11:57:00

All it needs is the council to not grant planning permission for any non-football use - simples. PUP
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04/02/2010 12:07:00

does any one recall a large 2 page spread in one of the broadsheets a little while back where the 7parcels of land around Fratton was mapped out and who owns whay...if so what paper? as i am trying to find it
plymouth graham
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04/02/2010 12:12:00

Daily Mail.....Chix did a spread on it in the forum...
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04/02/2010 12:33:00

The conspiracy theorists are at it again. Did you hear that Warren Buffet has interest in Pompey, oh no it's Donald Trump, no it isn't it's Duke of Windsor, or could it be that no one will be interested after the way these tosspots have dealt with things. What Chainrai needs to do is have a clean sweep of the current clowns, Al Faraj, SAF, Jacobs, Storrie, Gaydamak. Then get someone in who knows what they are doing, along with an expert in PR and get this bloody mess turned round, so that when he does sell it it looks in better shape than it does now. Shouldn't be to hard to find someone sensible compared to the dross that have handled things up until now. He has to get rid of all this dead wood in order to move forward. In the current economic climate there are some excellent Blue Chip CEO's around who could take charge on a short term contract and do a fantastic job.
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04/02/2010 12:34:00

NorfolknBlue However, the developer would have right of appeal, and it would have to be determined by an Inspector (or the Secretary of State) on legally proper "planning" grounds - i.e. wanting to preserve a football club wouldn't count. Land owners are entitled to beneficial use of their land, and if there is no economic demand for a football club or similar leisure use, then residential and/or retail uses are the obvious alternatives. Indeed if the Council were to refuse permission unreasonably, they could have costs awarded against them. So if Chainrai has no interest in football (as reported) and simply wants to retrieve his investment (as probably does Gaydamak), then the outlook is bleak indeed.
erithacus rubecula
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04/02/2010 12:40:00

Graham...the URL you are after is..... http://www.dailymail.co.uk/sport/football/article-1243828/Do-men-control-Portsmouth-want-football-club-superstore.html
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04/02/2010 12:42:00

Maybe we'll have more owners than points by the end of the season.
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04/02/2010 12:45:00

They always say "True life is stranger than fiction" well Pompey have bettered that tenfold............
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04/02/2010 12:53:00

lol Tim.
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04/02/2010 12:54:00

This is the link to the Daily Mail article: http://www.dailymail.co.uk/sport/football/article-1243828/Do-men-control-Portsmouth-want-football-club-superstore.html
erithacus rubecula
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04/02/2010 12:56:00

It's been confirmed on the OS, Daniel Azougy will have nothing more to do with Pompey. Bit late but better than nothing.
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04/02/2010 16:46:00

thanks fellas for the links to daily mail article.. Its all just a bit too fishy for me
plymouth graham
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04/02/2010 18:30:00


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