• Premier League

I have no interest in buying Portsmouth - Chainrai

Soccernet staff
February 5, 2010
Portsmouth's players have had their wages paid late four times this season © Getty Images
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Hong Kong-based businessman Balram Chainrai claims that he has no intention of staying in charge in the long-term and that he is not the ''owner'' of the club, despite taking control of Portsmouth on Thursday.

Chainrai has technically become Pompey's fourth owner this season after his company, Portpin, took over the 90% shareholding of previous owner Ali Al-Faraj by exercising a clause in the agreement relating to a £17 million loan made in October that effectively staved off administration.

But the 51-year-old insists he is merely protecting the club's interests by removing Al-Faraj after the players saw their wages delayed four times this season.

''I have zero interest in buying Portsmouth and it's completely untrue that I am the new owner of the club,'' Chainrai told the South China Morning Post. ''As far as I am concerned, I have just confiscated the shares of the previous owners.

''It's nothing to do with controlling the club. I don't know anything about running a football club. I just love the game and that's why I've taken this action. We have exercised our right to take control of the shares, and to remove the previous owners.

''It's all about protecting the club's interests. It's about finding someone who has the club's best interests at heart.''

Mark Jacob, the British lawyer appointed to the Portsmouth board by Al Faraj, is contesting whether Portpin's takeover can go through - claiming that neither party has complied with the loan agreement. Chainrai, though, is focused on eventually finding a suitable investor for the club and is confident of doing so.

''Believe me, someone will come in and buy this club,'' he added. ''This is Premier League football we are talking about. We are eagerly looking for an investor to come in and take over.

''I don't have a time frame to find a prospective buyer. I would like to have one here today if I could, but we'll just have to wait.''

© ESPN Sports Media Ltd.
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