SM
Liverpool vs. PSG: 13 hrs 52 mins
Upcoming predictions and previews

Balu Chainrai pulls out of Portsmouth takeover

:Headline: Balu Chainrai pulls out of Portsmouth takeover: ID:40320: from db_amp
Balu Chainrai confirms his decision to pull Portpin Ltd out of a proposed takeover of Portsmouth, which leaves the club edging closer to liquidation.

Balu Chainrai has announced that he has pull out of the running to buy financially-stricken League One outfit Portsmouth.

The businessman, who heads Portpin Ltd, was expected to complete a takeover of the club after administrator Trevor Birch offloaded a host of first-team players in order to drop the wage bill.

"Portpin Ltd regrets to announce that it is withdrawing its bid for Portsmouth Football Club," Chainrai said in a statement to Sky Sports News.

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties.

"We are not the ones who have caused the club to collapse and we are not the ones to choose PKF as administrators. Through this administration process over the last six months we have always had the club's best interest in mind, unlike many parties who were involved in the process.

"We repeatedly encouraged the administrator to find a new, willing and able buyer to take over the club. Unfortunately he was unsuccessful in this job and couldn't find a buyer despite his promises!!"

The former Championship club fell into administration for the second time in two years in February.

amp_article__40320 : Database Data restored...  : 
last updated article - 2012-08-15 16:15:17:
html db last update - 2012-08-15 16:15:17 :

ex - 7200 : read : read cache amp html

Click here for more stories about Balu Chainrai

Click here for more stories about Portsmouth

Share this article now:
Recommended Next on SM
Premier League Table
TeamPWDLFAGDPTS
1Leeds UnitedLeeds362210472234976
2Sheffield UnitedSheff Utd36246651272476
3Burnley362014249103974
4Sunderland361911654332168
5Coventry CityCoventry36168125246656
6West Bromwich AlbionWest Brom361316746321455
7Bristol City36131494639753
8Blackburn RoversBlackburn36157144137452
9Middlesbrough36148145547850
10Norwich CityNorwich361213115749849
11Watford36147154650-449
12Millwall361212123637-148
13Sheffield WednesdaySheff Weds36139145056-648
14Queens Park RangersQPR361111144146-544
15Swansea CitySwansea36128163846-844
16Preston North EndPreston36916113642-643
17Portsmouth36119164457-1342
18Oxford UnitedOxford Utd36912153753-1639
19Hull City36910173645-937
20Stoke CityStoke36812163650-1436
21Cardiff CityCardiff36812163959-2036
22Derby CountyDerby3688203549-1432
23Luton TownLuton3687213259-2731
24Plymouth ArgylePlymouth36612183673-3730
Scroll for more - Tap for full version


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
AL
Sign up for our FREE daily preview newsletter direct to your inbox!

Loading ...

Failed to load data.



. . . . . . . . . . . . . . .