HK businessman ‘zero interest’ as Portsmouth owner

Hong Kong businessman Balram Chainrai has “zero interest” in buying Portsmouth and only took control of the struggling Premier League club to oust its previous owner, a report said Friday.

The South China Morning Post quoted Chainrai as saying he assumed control of the club over a 17-million-pound loan made to Saudi businessman and former owner Ali Al-Faraj.

Chainrai grabbed the Saudi businessman’s 90 percent stake in Portsmouth after the club allegedly missed loan repayment deadlines, the Post said.

“I have zero interest in buying Portsmouth and it’s completely untrue that I am the new owner of the club,” Chainrai told the Post.

“As far as I am concerned, I have just confiscated the shares of the previous owners.”

Chainrai, the club’s fourth owner this season, told the paper he wants to stabilise Portsmouth before selling it to new owners and recouping his investment.

“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,” he told the Post.

“We have exercised our right to take control of the shares, and to remove the previous owners,” he added.

Chainrai said he was confident a new owner would buy Portsmouth.

“Believe me, someone will come in and buy this club,” he told the Post.

“This is Premier League football we are talking about. We are eagerly looking for an investor to come in and take over.”

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