Vital Football

Pompey CSI acquisition insider info

Pompey CSI acquisition insider info
Trustful and reliable sources have told that acquisition of Portsmouth Football Club by Convers Sports Initiatives is up in the air and looks like it may not even going to happen at all.

Recently all of the CSI shareholders have passed 'Fit and Proper' tests, provided proof of financial sound and stability in order to secure and complete the acquisition of Portsmouth FC. Sources also saying that apart of that they've put all the necessary guarantees in place with regards to commitments of future investments into the club and its infrastructure, moreover there was an escrow account also opened in one of the UK Banks with necessary sum transferred back in February towards the completion of the deal.

Everything was set up and acquisition should have been completed within few weeks, however current club owners Levi Kushner and Balu Chainrai have decided to request an additional 3 million pounds on top of agreed sum. During the last few months they were constantly changing fundamental agreement terms.

There are also rumours that originally Mr Chainrai was happy to accept the price for the club which equals his initial investment but from day one negotiations with CSI Mr. Kushnir and Chainrai changed his mind. The deal was negotiated and agreed between all parties months ago but Levi and Balu increased the price number of times which is at the moment could go up to 35 millions.

At the moment information known by the source states that CSI and their shareholder have decided to walk away from the deal and do not proceed with the purchase of Portsmouth FC.

Written by Alexey Gerdt.

The views within this article are the views of the individual who wrote and submitted this piece, sometimes solely theirs. They are not necessarily shared by the Vital Pompey Site Journalists.

  • Click here to make your prediction: Pompey v Norwich.

    Join the Vital Pompey Debate

    Trust

  • Frippy's Virtual Bookies - latest update and place your bets!

  • Writer:pompeyrug
    Date:Monday April 25 2011
    Time: 5:28PM

    Comments

    0
    Jesus wept, surely Chainrai should be tearing their arms off just to recoup his money and go away after the club nearly folded (and obviously he would have got nada in return).
    Tantona
    25/04/2011 18:17:00
    0
    Rumours, rumours..... wait until the official announcement is made. Maybe we've hit the same block as Bournemouth and Rangers.
    PFCblue
    25/04/2011 18:43:00
    0
    I don't think Chanrai is as bad as some think, but the other one...Kushnir... Good cop bad cop I reckon and I bet it's all down to him, after all he was present both windows trying to sell anything that moved. If brian swan from Sky had been near by on transfer day he would have sold him.
    Midge
    25/04/2011 18:59:00
    0
    Oh dear oh dear..this is depressing...if in deed it is true...i doubt though...i suggest that a litte brinkmanship is in place if any thing and they will settle a deal somewhere in the middle..if it is in deed true
    plymouth graham
    25/04/2011 19:33:00
    0
    As an ex estate Agent, this smacks of who will pay the commission?
    dedmans
    26/04/2011 08:27:00
    0
    Of course this type of report is dangerous and sounds almost tailor-made to apply pressure to the deal. What tosh.
    Liquor&Poker
    26/04/2011 10:31:00
    0
    Quelle suprise!!
    Owenspompey
    03/05/2011 11:33:00
    Page 1/1
    1. 1

    Login to post a comment

    Recent Portsmouth Articles

    Clarke not 'too far' from a Pompey return

    A first match as a permanent Pompey player could come for the former Ipswich man against Yeovil next week with Clarke 'pencilled in' to make his Blues return.

    Interest in Naismith...no one else

    Naismith remains transfer-listed and could go before next Wednesday's transfer deadline but Catlin has insisted Pompey aren't looking to (and do not need to) offload anyone.

    On this day in history...25th August

    A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 25th August.

    Forde gets Republic of Ireland call

    David Forde has been called up by Republic of Ireland manager Martin O'Neill.

    Archived Vital Pompey Articles

    Vital Pompey articles from

    Site Journalists

    pompeyrug
    Editor email
    Profile
    eastneydave
    Editor email
    Profile
    paultsmouth
    no email
    Profile
    Chix
    no email
    Profile

    Current Poll (see more polls)

    Colchester MotM
    Suggested By: Site Staff
    Forde23%
    Talbot8%
    Barton0%
    Burgess6%
    Stevens2%
    Baker0%
    Rose3%
    Doyle6%
    Bennett1%
    Roberts21%
    Main0%
    Sub - Hunt0%
    Sub - Chaplin29%
    Sub - Linganzi1%
    ScoopDragon Publishing Entire League Network of Sites

    League Table

    # Team P W D L Pts. GD
    1 Morecambe 4 3 0 1 9 2
    2 Crawley 4 2 2 0 8 2
    3 Luton 4 2 1 1 7 3
    4 Leyton Orient 4 2 1 1 7 3
    5 Colchester 4 2 1 1 7 1
    6 Doncaster 4 2 1 1 7 1
    7 Mansfield 4 2 1 1 7 0
    8 Barnet 4 1 3 0 6 2
    9 Crewe 4 1 3 0 6 1
    10 Carlisle 4 1 3 0 6 1
    11 Plymouth 4 2 0 2 6 -1
    12 Blackpool 4 1 2 1 5 1
    13 Hartlepool 4 1 2 1 5 0
    14 Portsmouth 4 1 2 1 5 0
    15 Wycombe 4 1 2 1 5 0
    16 Yeovil 4 1 1 2 4 0
    17 Newport 4 1 1 2 4 -1
    18 Accrington 4 1 1 2 4 -2
    19 Notts County 4 1 1 2 4 -2
    20 Stevenage 4 1 1 2 4 -3
    21 Grimsby 4 1 0 3 3 -1
    22 Cheltenham 4 0 3 1 3 -1
    23 Exeter 4 1 0 3 3 -3
    24 Cambridge 4 0 2 2 2 -3
    Latest F1 News
    Latest Vital Boxing News

    Recent Portsmouth Results (view all)

    Portsmouth Fixtures (view all)

    Vital Members League Table

    RankNamePoints
    1.pompeyrug131
    2.PompeyFrippy33
    3.storagematt31
    4.FrattonBlue27
    5.Copnor4321
    6.eastneydave15
    7.uspompeyfan14
    8.mslorna4814
    9.Dentoblue12
    10.Jimsmithswig8