Portsmouth Football Club supporters are a step closer to taking over the club after it was reported Balram Chanrai was withdrawing his bid. The latest development leaves the administrator only one bid on the table; that of the fans.
They've already pledged almost £2m, with associate directors and investors paying another £1m. Last Thursday, Portsmouth City Council agreed a £1.45m bridging loan to the Trust, in the event of a 'commercial' solution not emerging.
The SOS Pompey supporter's group has released this statement:
"We have today been advised that Balram Chainrai and his company Portpin have withdrawn their offer to purchase Portsmouth Football Club for a third time, leaving the way clear for the Pompey Supporters Trust to be able to take control of our club.We call on Mr Chainrai to do the decent thing, and accept the PST offer to purchase his charge on the club, and therefore walk away from Pompey, regaining some of the money he has lost, and leaving the club in the hands of the people who will truly cherish it and ensure that it continues as both a business and a legacy for the future.SOS Pompey has campaigned for Mr Chainrai to finally leave Pompey, and we hope that this latest news could be the light at the end of the tunnel, which ultimately returns the club to the fans.Portsmouth FC is the lifeblood of the fans and the city, and we ask all supporters of the club, the people of Portsmouth and football as a whole, to support the work of the Pompey Supporters Trust, in their continued efforts to secure its future. Pledges are still wanted, and both these and donations can be made via www.pompeytrust.com. SOS Pompey intend to hold a peaceful demonstration of our pride in our manager and players before this Saturday’s game against Bournemouth at 2.15pm at the gates of Fratton Park, and we ask all fans to join us in showing how much we appreciate the work of the manager and staff of our magnificent club."