Pompey taken over - again!

Thursday, 04/02/2010

Premier League basement club Portsmouth have their fourth owner of the season.

The debt-riddled side have been taken over by Hong Kong businessman Balram Chainrai – who has said the club could have a fifth owner before the year is out!

Chainrai's company, Portpin, have taken a controlling interest from Ali Al-Faraj after invoking a clause in their agreement over a £17m loan made to the Saudi.

But Chainrai admits that once he has the club in a decent position his aim is to sell and get back his investment.

Portsmouth have had problems paying their wages, have made big cut-backs, been the subject of a transfer embargo, and face a court case over alleged cash owed to the taxman.

They are currently bottom of the league and the bookies’ favourites to be relegated. But they reckon boss Avram Grant will remain in charge of the team.

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