• Premier League

Storrie hopeful of Pompey sale on Monday

Portsmouth chief executive Peter Storrie believes the embattled club will be sold to a South African consortium on Monday, a fifth owner of the season, thus saving Pompey from going under with just days to spare.

He told Soccernet: "A deal to sell the club is red hot, proof of funds has been asked for, it's been lodged with the lawyers, and now all we need to do is to have those proof of funds lodged with the bank, and we can go ahead with the takeover."

Storrie also gave an interview to ESPN TV cameras ahead of Pompey's 2-1 defeat to Stoke City, and revealed that current owner Balram Chainrai has stayed on in this country in anticipation of concluding a deal in principle on Monday, leaving just six days to go before Her Majesty's Revenue and Customs reconvene their winding-up order in the courts on March 1.

Storrie said: "We want to keep this club alive, we don't want to go into administration and lose nine points, we believe we can conclude a deal to sell the club. We've been talking to the South Africans quite heavily all last week, and we are hopeful, but we've been there before, so let's see what Monday brings."

He also claimed that he was abused by the fans because they believed he wanted to sell more Portsmouth players from an already threadbare squad outside of the transfer window, a fund-raising idea mooted earlier this week but turned down by the Premier League on Saturday.

Storrie said that the idea had originally originated from the Premier League: "That was their suggestion, the idea came from them in the first place. I can understand objections from other clubs but I didn't even know such a rule existed.

"But myself and my family have had very serious threats upon myself personally, and we've had to take a lot of abuse. I am staying on because I love the club and have worked so hard to do everything I can in the next few days to keep it alive."

Current owner Chainrai has given the go-ahead to sell to the South African group and he has also taken possession of Fratton Park and the freehold of Pompey's land in return for writing off £10 million of his £17 million loans.

Chainrai, who makes no pretence that he has no intention of running the club as a going concern and cannot wait to sell it on, has leased the ground back to Portsmouth. Soccernet understands that Chainrai has given the club a 15-year lease on Fratton Park with a rent that could rise in future years, and depending on different clauses, to close to £1 million a year.

Hong Kong businessman Chainrai came to Pompey's rescue with two loans totalling £17 million, and with interest would be owed around £20 million. To hand Pompey much-needed cash, Chainrai took charge of the land and the majority shareholding, which he took ownership of when the previous Middle East owners defaulted on repayments to him.

Storrie told ESPN: "I think it's a very honourable thing for him to do. Not many people can write off £10 million, although, of course, he will get it back over a 10 to 15-year period."

© ESPN Sports Media Ltd.