26 Aug 2010Entrepreneur 'preparing Portsmouth bid'

Football Clubs News | Football Finance News

A young entrepreneur has joined the bidding for troubled Championship football club Portsmouth and is looking to derail the takeover attempts of Hong Kong-based tycoon Balram Chainrai.

According to the Portsmouth News, 21-year-old Manchester businessman Thomas Lever has signalled his intention to bid £16 million to Chainrai to buy him out before the existing deadline for offers expires on September 9th 2010.

However, administrator Andrew Andronikou told the newspaper that Lever is yet to place the money into a bank account to prove his interest is genuine and admitted to being concerned about the speculation.

"We want to see some money in the account. They said they were going to put £15 million to £16 million in the account to give me confidence they have honourable intentions," he explained. "The whole situation worries me."

Last month, Portsmouth won a crucial High Court case after HM Revenue and Customs took legal action to block a proposed company voluntary agreement.

Written by Terry Mitchell

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