New Pompey Owner Takes Over

The Club Has Changed Ownership On A Number Of Occasions

Manager Avram Grant's chances of pulling Portsmouth out of the Premier League relegation zone may have taken a knock with the news that ownership has changed hands at the club for a third time this season.

Pompey are currently five points adrift at the bottom of the table, with bookmakers including Coral (Go to Coral ») and Extrabet (Go to Extrabet ») heavily favouring the south coast side at 1/6 to be in the Championship for the next campaign.

Balram Chainrai from Hong Kong seized control from Ali al-Faraj and now has a 90 per cent shareholding in the side due to a number of missed payments that the club owed to him.

Chainrai had loaned Portsmouth at least £17 million through Portpin - a company he owns in conjunction with an Israeli business partner.

"Portpin have made substantial loans to Portsmouth to try and ensure the club's future," he told the Guardian. "Portpin will [now] continue to work for the best interests of the club."

Written By:- Andy (About our Authors)
Posted on:- 04/02/2010 - 14:30 PM
Filed in:- Football Betting News