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Page last updated at 11:49 GMT, Friday, 6 August 2010 12:49 UK

Balram Chainrai unsure over Portsmouth investment

Portsmouth
Portsmouth finished bottom of the Premier League last season

Portsmouth's potential new owner Balram Chainrai has revealed that he has still not decided whether to buy the club.

The Hong Kong-based businessman is favourite to take Pompey out of administration and resume control at Fratton Park.

"I'm not talking to the administrator, the administrator is talking to me. It all depends on my family, my present situation," Chainrai told Radio Solent.

The businessman said if he did take charge, he would invest funds.

"If I go in, I will go in with money to stabilise the club and bring it back to the Premier League," he said.

606: DEBATE
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"I'm not going to stay in the Championship. The manager would receive my full support."

Chainrai lent Portsmouth's former owners £17m last year before seizing the assets in February.

He then placed the debt-ridden club in administration, but was always believed to be the favourite to buy them back.

On Thursday, the High Court ruled against HM Revenue and Customs in an appeal against Portsmouth's plan to come out of administration.

The decision means Pompey are free to begin the new Championship season and continue their work to rebuild the club.

Portsmouth start their Football League campaign with a trip to Coventry City on Saturday, with a Carling Cup first-round tie at Stevenage to come on Monday.



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see also
Portsmouth win High Court battle
05 Aug 10 |  Portsmouth
Portsmouth 'not strong enough' - Cotterill
05 Aug 10 |  Portsmouth
Pompey call for sporting chance
04 Aug 10 |  Portsmouth
Pompey to learn fate on Thursday
03 Aug 10 |  Portsmouth
Pompey suffer fresh embargo blow
19 Jul 10 |  Portsmouth
Portsmouth debts close to 120m
21 Apr 10 |  Portsmouth
Portsmouth enter administration
26 Feb 10 |  Portsmouth


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