PKF’s administrators thought that they had done what was necessary to save Portsmouth FC by offloading first-team players, but matters took a turn for the worse this morning when Balu Chainrai withdrew his bid to buy the club.
Chainrai had been expected to complete the deal this week after PKF’s Trevor Birch spent the past few weeks offloading first-team players in order to push through a sale of the troubled club.
However the Hong Kong businessman released the following statement to Sky Sports News this morning:
About Robert Lovell
Business and finance journalist