Chainrai: I don’t want to own Pompey

The Hong Kong-based businessman has technically become Pompey’s

fourth owner this season after his company, Portpin, took over the

90% shareholding of previous owner Ali Al Faraj by exercising a

clause in the agreement relating to a £17million loan made in

October that effectively staved off administration. But the

51-year-old insists he is merely protecting the club’s interests by

removing Al Faraj after the south coast club’s players saw their

wages delayed four times this season. The club also face a

winding-up order from HMRC over a £7.5million VAT bill, for

which a High Court hearing is due next Wednesday – which would also

see Chainrai lose out on the repayment of his loan, reportedly

secured against Al Faraj’s 90% shareholding, Fratton Park stadium

and future TV revenue. Quoted in the South China Morning Post,

Chainrai said: “I have zero interest in buying Portsmouth and it’s

completely untrue that I am the new owner of the club. “As far as I

am concerned, I have just confiscated the shares of the previous

owners. “It’s nothing to do with controlling the club. I don’t know

anything about running a football club. I just love the game and

that’s why I’ve taken this action. We have exercised our right to

take control of the shares, and to remove the previous owners.

“It’s all about protecting the club’s interests. It’s about finding

someone who has the club’s best interests at heart.” Mark Jacob,

the British lawyer appointed to the Portsmouth board by Al Faraj,

is contesting whether Portpin’s takeover can go through – claiming

that neither party has complied with the loan agreement. Chainrai,

though, is focused on eventually finding a suitable investor for

the club and is confident of doing so. “Believe me, someone will

come in and buy this club,” he added. “This is Premier League

football we are talking about. We are eagerly looking for an

investor to come in and take over. “I don’t have a time frame to

find a prospective buyer. I would like to have one here today if I

could, but we’ll just have to wait.”