3 Sep 2010Portsmouth ownership saga continues

Football Clubs News | Football Finance News

Mystery still surrounds the current ownership of troubled south coast football club Portsmouth, after it was revealed that prospective buyer Balram Chainrai's investment vehicle is owned by another shell.

According to an article in the Guardian, the sole shareholder of the Hong Kong tycoon's holding company, PFI Realisations, is Sports Holdings (Asia) Ltd - a company registered in the British Virgin Islands.

Before the start of the new season, the Football League introduced new rules intended to force clubs to disclose the identities of all their shareholders, but the latest developments at Fratton Park have raised further questions over their effectiveness.

The news came after the Daily Telegraph reported that Portsmouth's administrator Andrew Andronikou had expressed strong doubts about a possible takeover attempt by 21-year-old Cheshire student Thomas Lever.

Lever's father, Manchester businessman David Lever, was declared bankrupt earlier this year with arrears of more than £3 million, although his son insisted he is not part of the bid.

Written by Terry Mitchell

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