It’s been another interesting week in the twists and turns of Pompey, and nothing has raised as many eyebrows as the proposed CVA arrangement sent to creditors from Balram Chainrai’s Portpin group.

With Portpin’s third involvement in the club in as many years seeming to be the preferred bid of choice by administrator Trevor Birch, it would appear that the Hong Kong businessman appears to be in pole position to take control of the club once again.

This of course, has to be ratified by the creditors, of which Mr Chainrai is also the major footballing creditor in that list and on the creditors committee, with his charge of around £18 million, the largest single claim being made for repayment, would seem that it would be a matter of formality for Portpin to own Pompey yet again.

Mr Chainrai is an enigma of that you can be sure.

For my part as a founding member of SOS Pompey, Mr Chainrai has attempted to rubbish our commitment to gaining transparency within the administration of PFC. His last volley included calling SOS “from another planet” if we were to question his intentions towards to our great club.

For whatever reason, we certainly can’t blame him for the latest demise of our club.

Converse Sports Initiatives implosion in November of last year, following the arrest of their major shareholder, Vladimir Antonov, put paid to any green shoots of recovery, which at the time were beginning to sprout. It has since been shown however, that mismanagement of the club was occurring even under their stewardship, with the acknowledgment of another loan leveraged against the club of £10 million, which CSI are also trying to claim back in the administration process.

So, here we are again. Only this time, the offer is 2p in the pound and not 10p in the pound.

Those creditors from the previous CVA will be lucky if they see pounds back rather than the thousands they are owed.

Once again, the promise to repay creditors with claims of less than £2500 and charities is a promise that Mr Chainrai is making. The same promise that he made under UHY, and never fulfilled.

I don’t pretend to know the answer as to what Mr Chainrai’s intentions are towards PFC. I do believe however, that regardless of the tireless work put in by the Pompey Trust to try and gain control of Pompey their bid will be doomed to failure.

Mr Chainrai holds all the cards, both on and off the field, and if we are to begin the season on the field then this whole sorry mess needs sorting quickly.

The only person who knows what’s to come is Balram Chainrai.

Portsmouth waits with baited breath.

My last few years as a Pompey fan have been eventful to say the least. From helping to set up SOS Pompey, to working as the Pompey Trust’s Press Spokesman, helping to put together the Plan B business plan, as well as watching my beloved Pompey, it has been both a stressful and enjoyable period.

Presently I’m amongst the “aliens” of SOS Pompey, and we have every intention of holding those responsible for our clubs demise to account, in whatever way we can.

In the meantime, I’ll be looking at the Pompey news, and giving my own take on the comings and goings down the Park.

These are my views, and not those of SOS Pompey or pompey-fans.com, so don’t shoot them!

Photo: Action Images

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