Chainrai returns to UK to sort out club’s future

103686_POMPEY_DONCASTER_13/11/10''Balram Chainrai (centre)''Portsmouth V Doncaster Rovers at Fratton Park, Portsmouth.''Picture: Allan Hutchings (103686-2)
103686_POMPEY_DONCASTER_13/11/10''Balram Chainrai (centre)''Portsmouth V Doncaster Rovers at Fratton Park, Portsmouth.''Picture: Allan Hutchings (103686-2)
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HONG Kong businessman Balram Chainrai, the former Pompey owner, is now in the UK sorting out the club’s future.

He revealed at the weekend he would be flying in to personally take part in talks about the survival of Portsmouth FC.

Yesterday the administrator of Pompey’s parent company Convers Sports Initiatives, Andrew Andonikou from accountancy firm UHY Hacker Young, said that the businessman has returned to the UK.

Mr Chainrai owned Pompey with Israeli Levi Kushnir through their Portpin company after they took over from Ali al-Faraj at the start of 2010.

He again took ownership after the club exited administration in October 2010.

He sold it to CSI, who owed him £17m, and when they defaulted on a payment he placed a charge on Fratton Park so he would be given priority over other creditors when trying to get his money back.

Mr Chainrai told the South China Morning Post he and Mr Kushnir had covered the unpaid January salaries, but the club later confirmed these still remain unpaid.

He told the publication: ‘I still have a debenture over the club as security on the club’s full assets, so one way or another I’m going to get my money back.

‘But I don’t want to see the club liquidated. Anything I can do to help Portsmouth I will.’

Mr Andronikou confirmed Mr Chainrai is in the UK but said: ‘I don’t know why he’s here and will ask him when he turns up in London.’