Balram Chainrai makes offer to buy Portsmouth

By +Frank B.
in The Sporting Arena

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Balram Chainrai makes offer to buy Portsmouth

Former Portsmouth owner Balram Chainrai has made a firm offer to buy back the debt-ridden club.

Pompey are currently ?58m in debt after previous owners Convers Sports Initiatives went into administration.

Chainrai is currently owed around ?17m by the club but previously stated he would not let them be liquidated.

"I'm a businessman but I realise that the club will only have value if it is successful. I now want to turn things around," said Chainrai in a statement.

More to follow.

Source: BBC Sport

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