Pompey Supporters’ Trust ready if Chainrai walks away in fees row

BID From left, supporters' trust associate director Eric Coleborn, former player Ray Crawford, MP Penny Mordaunt, Ashley Brown, Mick Williams, Iain McInnis, and trust advisor Antony Fanshawe. Picture: Ian Hargreaves  (122568-9)
BID From left, supporters' trust associate director Eric Coleborn, former player Ray Crawford, MP Penny Mordaunt, Ashley Brown, Mick Williams, Iain McInnis, and trust advisor Antony Fanshawe. Picture: Ian Hargreaves (122568-9)
Samantha Quayle. Picture: Jordan Hampton

Flying start for Pompey with Cardiff swept aside

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POMPEY Supporters’ Trust says it is waiting in the wings if Balram Chainrai decides to walk away from Portsmouth Football Club.

Over the weekend Mr Chainrai threatened to back off from Pompey in a dispute over fees charged by administrator PKF.

DISPUTE Balram Chainrai

DISPUTE Balram Chainrai

But Ashley Brown, chairman of the trust, said he is not worried.

He said: ‘The clock is ticking and we have always said to administrator Trevor Birch we are there to acquire the club on the right terms.

‘If Mr Chainrai walks then it could give the trust the opening to save Pompey.

‘Mr Birch knows we have allowances for a proportion of administration fees, so it is of no real concern.’

Mr Chainrai’s firm Portpin is due to take on Portsmouth Football Club again and discussions are ongoing between Portpin and administrator PKF to finalise arrangements.

But the takeover could now be in jeopardy because a deal on PKF fees – believed to be £1.8m – cannot be met.

Mr Chainrai said: ‘My business partner Levi Kushnir and I are very depressed with the situation over the fact PKF have refused to do a compromise deal over their fees.

‘Because they are failing to do a compromise with fees, there’s no way to move forward and take the club out of administration.

‘We are waiting for them to follow through on this. We will be waiting, but we won’t be waiting for long.’

Administrator Trevor Birch said: ‘Over the past six weeks or so I have been striving – in very difficult circumstances – to fulfil the terms of the CVA with Portpin.

‘This is so the club can come out of administration before the new season starts and have the best opportunity to move forward in a positive manner – as all the fans and employees of the club want to see.

‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’

As previously reported, between February 17 – when PKF took over as administrators – to June, it had amassed fees of more than £700,000.

A creditors’ committee meeting authorised for PKF to receive the first £425,000 from the club, of which £200,000 has been taken.