Hong Kong businessman to take charge of Pompey - again

Former Portsmouth owner Balram Chainrai is set to buy the debt-ridden Championship club for a second time – six months after placing them in administration.

Chainrai has made an offer on behalf of his investment company Portpin to take Portsmouth out of administration.

The Hong Kong businessman, Pompey’s largest creditor with a debt of £17million, first seized control in January.

Administrator Andrew Andronikou wants to rush through the deal so the Football League can lift a transfer embargo to allow manager Steve Cotterill to add to his squad.

Andronikou said: “Portpin are the expedient route to move out of the embargo. But there is still interest from other potential buyers.”