Portsmouth FC

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• Manager:Steve Cotterill

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Pompey chief already eyes exit

05 Feb 2010 - 08:32:56

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Portsmouth's latest custodian Balram Chainrai is hoping a fifth new owner this season can be found after admitting he has no long-term interest in the club.

Chainrai and his company, Portpin, acquired 90 per cent of the club's shares from Ali Al Faraj on Thursday when the previous owner defaulted on loan payments due to him.

The Hong Kong-based businessman put £17million into the ailing club back in October and has confirmed that his acquisition of the shares is likely to be a short-term move.

"I have zero interest in buying Portsmouth and it's completely untrue that I am the new owner of the club," he told the South China Morning Post.

"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."

Chainrai's takeover is being challenged by Al Faraj's advisors, but the Hong Kong-based businessman is upbeat about his chances of finding a new buyer despite Portsmouth's financial woes and their position at the foot of the Premier League table.

He added: "Believe me, someone will come in and buy this club.

"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."