Balram Chainrai hopes to secure a deal to take Portsmouth out of administration and avoid a threatened liquidation which has looked increasingly close. It would be the second time he has bought the club. He agreed a company voluntary arrangement to pay credtors 2p in the pound last month while he is owed £20m.
Balram Chainrai hopes to secure a deal to take Portsmouth out of administration and avoid a threatened liquidation which has looked increasingly close. It would be the second time he has bought the club. He agreed a company voluntary arrangement to pay credtors 2p in the pound last month while he is owed £20m.
The one outstanding obstacle are the contracts of three high value players, but it has hoped these can be resolved soon. Kanu has left the club but is still threatening to sue for a claimed £3m in unpaid wages.