Portsmouth News 24/7
Writer: pompeyrug 
Date:Friday September 14 2012
Time: 8:51AM
UK time is: 22:12:51
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Saviour!!!
Hallelujah, Pompey have salvation!
The statement issued by Balram Chainrai, and Portpin, on Thursday certainly paints a picture of them as 'heroes'...
This statement, starting about the amended bid, said: 'this was submitted as soon as possible to show our intention that we are serious about becoming the club's new owners again.
'Our plan is not based on the financial support of any property developers. Like the PST we have been approached by many of the same property developers but we have refused to deal with them.
'In our opinion we want to ensure that the club benefits in both the near and long term from any development at Fratton Park to the benefit of the club.
'It is our view that the ground stays under common ownership, as we have seen the damage this has caused with the land around the stadium not being owned by the club.'
How patronising is that!
It gets better though: 'our number one priority is to bring the club its stability and security of ownership and this will allow us to support Michael Appleton as he looks to build a young and talented team to take the club forward and excite the fans. It will probably be the first time in the last decade that the club will live on the financial resources that the club generates.
'We want to make it clear that 100% of the income of the Club including the remaining parachute payments will be used to pay the football creditors and run the club on solid grounds on a day to day basis, with any surplus funds being given to Michael Appleton for the first team playing squad.'
He will pay off the creditors etc., just like he did last time then eh!
In case it was not picked up there was more than a tinge of sarcasm in my opening thoughts, although I would guess that was apparent by the last line above...
If everything is as the statement makes it sound then Trevor Birch, you would think, will have little option but to accept as it would appear that this represents the best option to the creditors?
That is even if it is not the best thing for the long-term future of PFC!
What a picture this paints, but I find this very condescending - then again what I think is not what matters, what Birch and his administrative friends is...
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Your Comments
The day of reckoning has arrived - that is until the next one - and we expect a statement from TB.
eastneydave
I want to trust the guy, but does he see himself as a football creditor. Please let it end soon.
Ihatemidweektvgames
I don't get all the Chainrai bashing. Who wouldn't want to protect their investments? Also, he has the option and has done for a couple of years, to stop putting working capital into the club and strip whatever he can from asset sales etc, but he's not THAT much of a cold hearted business man... and he realises that he has a better chance of getting his money back by selling the club as a going concern to a credible buyer. As a point of note, now in capitals: NOBODY KNEW THAT THE PREVIOUS BUYERS (CSI RUSSIANS) WOULD LATER BE INVESTIGATED FOR £200M FRAUD. THE BANKING AUTHORITIES WHOSE JOB IT IS TO DO SUCH THINGS DID NOT KNOW. SO HOW SHOULD CHAINRAI (or the football league) HAVE KNOWN THAT? Actually I do know why the extra Chainrai bashing has come about recently... It is because of PST bid. Members and supporters of this have been pounding their propaganda on the NewsNow-linked articles and it is embarassingly tedious and transparent.
Liquor&Poker
Liquor & poker you are right I think and Chan statements are no worse and frequently more accurate than the Trust's. The simple lack of balance and fiction that is reported as fact - such as Chan plans to get rid of the clubs assets ( WHAT ASSETS ARE THEIR THAT ARE DISPOSABLE FOR GOD'S SAKE) starts to grate.
RussellM
no the chanrai bashing is because there is no proof that he ever put his money in Pompey via a owner that was never proven existed.
Super Bock 1898
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