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Chainrai on 'taking over'

So, Balram Chainrai has 'taken over', well 'seized control' at Pompey - even though Ali Al Faraj and co are going to be 'contesting' the legal right to exercise this seizure, so this will drag on and on I suspect...

To be fair to Chainrai he has said, right from the off - even long before this move - that 'owning a football club' did not interest him, so quite what his motivation is could be something of a concern?

Anyway, he has again, when talking to The South China Morning Post today, reaffirmed his stance and what he sees his future with the club being: 'I have zero interest in buying Portsmouth and it's completely untrue that I am the new owner of the club.

'As far as I am concerned, I have just confiscated the shares of the previous owners.

'It's nothing to do with controlling the club. I don't know anything about running a football club. I just love the game and that's why I've taken this action. We have exercised our right to take control of the shares, and to remove the previous owners.

'It's all about protecting the club's interests. It's about finding someone who has the club's best interests at heart.'

These thoughts might not go down very well with people but we have to 'hope' that this is said with some 'honesty' and 'openness' in mind - transparency is what we want, right?

Clearly Chainrai is looking to 'protect his investment' in the club, again quite why he has been so willing to 'loan' £20m remains to be seen, but having done so he WILL NOT want to lose it, so it is in his best interests to see us stay afloat - which cannot be a bad thing can it?

'Stability' is something that he, like others before that DID NOT give us that, says is something he wants to give us, and that is all we ask for isn't it. So long as he can sort out the issues with HMRC and ensure that EVERYONE will be paid on time each month that will do me!

The sooner that Chainrai can move away from 'running the club' the better as far as he is concerned, and he still feels we will make a 'very attractive proposition' to someone: 'believe me, someone will come in and buy this club.

'This is Premier League football we are talking about. We are eagerly looking for an investor to come in and take over.

'I don't have a time frame to find a prospective buyer. I would like to have one here today if I could, but we'll just have to wait.'

I think the KEY words are 'premier league football.' We become a far less attractive proposition should we not be a premier league club, then again if he can find that someone with 'the best interests of the club at heart' then it is possible, although we have to be honest we are not looking like an attractive proposition at the moment are we?

That said WE, the fans, CAN make a hell of a difference so it is now almost down to us to ensure that we show the watching world we ARE worth it! We need the support given by the 3,000 at Fulham to be shown at Fratton every time, recreating that Milan support will send out a big message!

Like I say, so long as he can keep us afloat, sort out what needs sorting out by paying creditors what they are owed when they are owed it and make sure - if he is here long enough - that the basic requirement of paying monthly wages happens then this is all we could ask for at this time, right?

Lets just hope this is what we get, and are not stitched up YET again...


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Friday February 5 2010

Time: 9:33AM

Your Comments

I think someone is going to get his fingers burnt...Championship clubs full of loanees are worth....About as much as a jar of Marmite.
Now we have this class 1 w4anker Jacobs, wanting to challange the takeover. Some people won't be happy until they destroy all that we are.
Talk is cheap. He now has to do what Storrie has been tryng to do all over the world for the last year - find a buyer and preferably with some money. He akso hs to keep the club in the prem - and with the best will in the world - how can he do that? The transfer window is shut and the team we have are willing but have had the stuffing knocked out of them by the last regime. Might be nice to get some bills paid tho.
I think Balram Chainrai has been more honest in 5 minutes than the rest of them have in 10 months. I am 'over the moon' that Big Al fudger has been shafted and will be 'sick as a parrot' if his challenge succeeds.
I agree Et_tu, what he says makes sense to me. I like this guy. Very refreshing.
so, we now have jacob - sorry a 'lawyer' - challenging this. FFS, i would tell them to ***** off, they do not have a leg to stand on do they?
all this 'we saved the club from admin' stuff is *********, the money that came in has 'in the main' been 'loaned' by chainrai anyway, right?
so WHO did this - not them...

they have failed to pay wages on time for 3-months in a row, it is this non-payment and non-payment to creditors that has seen this action.

we will find out in the coming weeks if chainrai will be any better, but he sure as hell cannot be any worse can he? if nothing else he DOES have an investment to protect so it is in his interests to do this...
I voted for the Chainrai tv show option last week.
I suppose, -not being from a non-businessman’s point of view I hasten to add, but some one who has experience of dealing with some elements of Families in Crisis with in my work. I would try getting all he creditors together and seek an amicable plan to enable them to receive the best penny per pound payment/settlement. This could be in the form of Uniting in a kind of debtor consortium, who own the club and then seek to sell the club as a "Premier League Club" at the price of the total debt-£60ml I believe. Therefore, the ground the 6 plots of land the business and players registrations etc all sold for the £60ml owed, no debt or tax bill etc attached to the purchase, or the dreaded administration points deduction and a chance-slim chance granted- of staying up for another season. With the potential of new increased £50ml per club that each of the PL clubs are advertised to get in TV monies next season. Then the new owner could surely run a small premier club on a million a week. If I had Mr Chainrai’s personal email I would send him a copy of my solution….am I being overly Naïve?
plymouth graham
Gandor " talk is cheap" the man saved our club once and has just done iit again. He will support the club because he wants his money, 18 odd million, back. I'm a bit surprised to read that. He will not be able to magic up buyers but a stable club has more chance of being sold and probably stabing off the winding up order. Give the bloke a chance, personally I don't see a buyer coming until after season end which I fear will not be in the Premiership.
If he does what he says on the tin - protects his investment by protecting us from the HRMC winding up order, stablising the club financially and then finds a buyer who wants to own Pompey and can take the club forward, well I'll be more than happy with that. And his honesty is refreshing. I am a bit concerned by all the increased uncertainty about the ownership of the club though.
Of course the winding up order has still very much not gone away. Chainrai has said he won't loan Pompey any more money - so he's not going to pay this off, he's just hoping to get it adjourned (I don't feel that's likely) or win the case (we lost the appeal) or get new investors in beforehand (3 days!). I didn't win the euromillions last night, so I can't help! I'm not sure what will happen if we lose this case, whether we go into administration, or worse the business just 'ceases to be'. I fear its the latter.

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