Nepalese-origin businessman buys Portsmouth

Updated: 05 February 2010 17:00 IST

Portsmouth are now under the control of Hong Kong businessman Balram Chainrai of Nepalese-origin, the struggling Premier League club's fourth owner this season,

Nepalese-origin businessman buys Portsmouth
©

London :

Portsmouth are now under the control of Hong Kong businessman Balram Chainrai of Nepalese-origin, the struggling Premier League club's fourth owner this season, it emerged on Thursday.

A spokesman for the club confirmed that Chainrai's company Portpin have taken a controlling interest in the financially-stricken club from former owner Ali Al-Faraj after exercising provisions linked to a 17-million-pound loan made to the Saudi businessman.

Chainrai hopes to stabilise the club before selling it on to new owners in order to recoup his investment, the spokesman said, adding that Peter Storrie, the chief executive, would continue to run the club.

The move means Portsmouth has become the second Premier League club to be controlled from Hong Kong following Carson Yeung's takeover of Birmingham in October.

Topics : Football Bayern Munchen
Related Articles
Eden Hazard Fires Chelsea To Win Over Tottenham Hotspur, Into FA Cup Final
Eden Hazard Fires Chelsea To Win Over Tottenham Hotspur, Into FA Cup Final
Real Madrid Do Battle With Atletico Madrid Once More In Champions League
Real Madrid Do Battle With Atletico Madrid Once More In Champions League
Marcus Rashford Fires Manchester United Into Europa League Semis
Marcus Rashford Fires Manchester United Into Europa League Semis
Show Comments
Advertisement