Date: 9th May 2012 at 11:45am
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It has been confirmed today, in The News, by Trevor Birch that he is ‘in discussions with two interested parties’ about the latest takeover of Portsmouth Football Club.

One of these has been confirmed as Balram Chainrai.

Birch said: ‘we are in discussions with two interested parties, one of which is Balram Chainrai.

‘Chainrai’s representatives publicly stated at the creditors’ meeting that they would not allow the club to be liquidated and we have since met with them to gauge their interest.’

As far as a ‘solid bid on the table goes’ this has not been forthcoming…

Time is of the essence for Pompey, as we know, so any genuine interest needs to come ASAP: ‘there is no solid bid on the table from either party at present but we are trying to find an appropriate deal structure that works within the time frame.

‘We are also talking to our contacts in the market to encourage any other potential bidders to come forward immediately.’

The identity of the second ‘interested party’ that Birch refers to is unknown although it is not The Trust’s fans buyout…

My understanding, at least a week or so ago, was that The Trust were the furthest advanced in terms of progress being made towards a takeover proposal with areas of due diligence being undertaken that no others had?

I remain quietly optimistic that this club will live on though.

I will not really go over ‘old ground’ once more about thoughts on Chainrai though – what I would say though is I sincerely hope that the proposed fans takeover can be the one that shines through as, for me, this is the one that gives us the best chance of a ‘long-term’ future.

My fears are that if the fans do not gain control of this club – and I cannot see us having a better chance – we will continue to go round in circles, particularly if Chainrai returns, and end up back in this very same position not too far down this line, only that time could there really could be no way out…

PLAY UP POMPEY!

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