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Chainrai 'could' be in place by the weekend?

With the CVA now agreed, thanks to last weeks unsuccessful appeal by HMRC, exiting administrating and finding a 'new' owner are now the next steps - looking to build up the squad will be the aim after that of course...

Well, according to what Admin Andy has told The Guardian, an agreement with Balram Chainrai to become our owner, again, could be done and dusted by the weekend: 'hopefully this is now the final chapter. We have drawn up the final draft of the sale and purchase agreement. I hope this can be signed and exchanged with Mr Chainrai hopefully by this weekend, I've come back from my holiday to do so.

'Any deal would have to be ratified by the Football League, they won't lift the player registration embargo until they sign off the sale. But if contracts can be exchanged then at least the (prospective) new owner can at least initiate the process of allowing Steve Cotterill to sign new players.'

He also said that Chainrai has already been in contact with the football league about the fit and proper person test, with it also 'said' that these talks were 'productive.'

Lets face it, Chainrai returning as our owner is not going to surprise many is it - this has seemed the option, or the likely option, for sometime now.

I think that we can all understand WHY it would be so good to get a clean sweep and completely new owner, although you don't always get what you want do you, sometimes you only have one option, and perhaps this is the case here?

As I have said several times as long as Dave Lampitt is around I am, and will be, a lot more relaxed - and feel sure things are on a decent footing - about the goings on at Portsmouth Football Club...

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Writer: pompeyrug

Date:Thursday August 12 2010

Time: 2:31PM

Your Comments

Personally have NO issues with Chanrai, he will pass the test, which includes proof of funds now so i am happy he is taking over, he knows the history thats for sure. PLUS... Storrie is gone, Gaydamac is gone, Harry cant make anymore money from us (Happy Times) :-)

Midge

I listened to his exlusive interview on tne radio Saturday and he emphasised the point that he wasn't part of the old regime, and that he didn't even know who Portsmouth were until he lent us the money. I can't understand why peope don't want him in, after all it was his £15m loan that kept us going. Of course he is a business man and he is getting paid intrest on that loan, but there weren't people banging at the door to help us at the time. If he comes in gives money for players and stays until we are stable and back in the Prem again then happy days.

blarmy

I echo the 2 comments above. Let's give him our 100% support as he's been our saviour. If the FL act quickly we could have an interesting last 2 weeks of the transfer window.

PFCblue

I'll support him if he supports us, sound fair enough?

paultsmouth

Presumably that'll mean that things like AA's salary cap will all be sensibly reviewed?

PFCblue

I guess this week will tell, and if Smith and Wilson both leave then you would guess that investment will not be forthcoming.

I for one though will be happy to just see the whole lot finished with, which allows us to just get back to maoning about the football.

sneakay

I second most of the above, as long as he does right by us and allows us to compete (and I don't mean plough in millions and millions) i'm more than happy if he sells us and makes a small profit in a couple of years. If he carries out what he promised in the radio interview and backs Cotterill fully to get back into the premier league (because he doesn't want to be in the championship) i'll be ecstatic - as long as it's done in a sensible manner and doesn't put us back in the same position.

stooH

Midge,Chix and I have been in agreement on this for a while- a vocal minority and I'm glad others are coming to the same opinion. Can't disagree with any of the above postings really. There is also nothing wrong with a little suspicion or substantiated criticism, the same should be applied to the trust. I'm just glad some of the SOS Pompey types didn't get anywhere with their mad cap finance plans- just give us 50 squillion quid please and let us work with you; like hell.

russellm

I am happy for Chainrai to become owner again. As said above he was the only ONE person that offered his help. The fact that he is also thinking of Premiership football again, this must be only GOOD news.

Pompey Malta

I have no issue with Chanrai either. But David Lampitt is not guaranteed a job remember, the new owner could appoint someone else.

eastneydave

Malta, off topic but in my anti Hart mega rant yesterday that wasnt aimed at you as a Hart supporter.Russ. LoL Ps your a *#~+**><##@^ so there

russellm

good point Dave, Rug and i were wondering this but we suspect that Chan as the chargeholder on the club would have had some input.

russellm

I'm certainly not too unhappy about Chanrai coming in, we could do a lot worse - in fact could have done a lot worse by now too. no owner at all would be worse.

tracyc

Tracy sums my mood up really - not too unhappy - and at least we know what we are getting: A man who does not care about football particularly and wants his 17m back. (Forget all the falling in love with Portsmouth crap). To get his money back we need to be firing on all cylinders, he gets what he wants and we get what we want. Someone further up said he doesn't mind if Chainrai makes a small profit. I hope he makes a whacking great profit!

gandor1

PFCBlue, I don't see anything wrong with the principal of a salary cap this year, I also think the poor darlings can survive on a paltry £40,000.00 + bonuses per month or a mere £500,000.00 per year. I'm sure if you changed to supermarket own brands you could scrape by on such slim pickings. Know wot yr thinking Dave

russellm

Russell that may be OK for you, but I'd really struggle ;-) Seriously though if we want a few quality players we're going to have to pay more than £40,000 pm. I'm all for a structured wage system but it has to be realistic in todays market. The most important things are not to spend beyond our means and to get the quality for the money - eg not overpay the likes of Utaka and co.

PFCblue

Actions speak louder than words. Pompey recent history is reminicent of the life of Brian. Lets not get carried away with the 'new saviour scenario' and follow Chainrai into the wilderness without our sandals. Lets see what happens when we come out of admin.Don't pat his back too hard yet, lets see what happens when we are out of admin.

Mike1954

so new stadium and training ground first with some mediocre players for now will be fine. Chainrai has done everything he said he would do this was his plan all along, now he will get to us back to the prem with our own money this time and then he will sell to a mega rich Chinese Associate of his. Making a hefty profit. Chanrai is a very shrewd business man and has made some brave decisions since he has been at the helm. Lets see what happens now. Starting with a win against reading, Vanden Borre, Kanu signing today aswell as Dickinson (he was meant to play for us with a name like that) PUP

evildwarf

I am just so HAPPY that we have still got a club to go and watch play we came very close to extinction, and I am going to give my backing to Chanrai without him we could have been extinct long ago.........

Pompeyblue1949

PFC Blue; you're too rich for my blood; still "every little bit helps" :-) 1954 you have a point but the way i see it is like a share warning; past performance is only a guide but not necessarily an indicator to future predictions; your team may be at risk of going down as well as up. Supporting Portsmouth is not an offer should not be taken up by those who have a health condition or are of a nervous disposition; but at least we have a chance.

russellm

Initial contracts have been signed - Lampitt on the Football Hour.

PFCblue

Yes its a done deal - although still lots of legal stuff to finalise it. We want the transfer embargo lifted now!

tracyc

i think the vast majority will be happy tomorrow - well at least before kick off; it remains to be seen if some fans want to get behind the club or not

russellm

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