Source: PA
Pompey get owner number four
Portsmouth have a fourth owner of the season after a takeover by Hong Kong businessman Balram Chainrai was confirmed - and the club could have a fifth before the year is out.
Chainrai's company Portpin have taken a controlling interest in the club from former owner Ali Al-Faraj after exercising a clause in their agreement over a £17million loan made to the Saudi.
However, Chainrai's aim is merely to stabilise the club before selling it on to new owners in order to recoup his investment.
A Portsmouth spokesman told Press Association Sport: "Portpin have exercised a clause in their contractual agreement to take a controlling interest.
"They are taking control on a temporary basis to allow new owners to be found. Portpin's aim is to come in and stabilise the club, sort out the business with the winding up order from HMRC and sell it on to new owners.
"New directors will be appointed to the board and Peter Storrie will remain as chief executive and will be running the club."
