Football

Chainrai: Fees need to be reduced

Published Add your comment

Portpin are ready to move forward with their takeover of financially-troubled Portsmouth if the administrators agree to a reduction in fees and legal costs.

A compromise agreement reached with the only remaining senior professional on Portsmouth's books, Liam Lawrence, on Friday averted the immediate threat of liquidation and joint administrator Trevor Birch said at the time that the major condition imposed by Portpin had now been met.

Portpin principal Balram Chainrai said in a statement to Sky Sports News that he was encouraged by the efforts of everyone at Portsmouth, but claimed the fees involved would have to be reduced. "Although not all CVA terms were met, we are ready to move forward," Chainrai said.

Copyright (c) PA Sport 2012, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms

Topics:
Portsmouth
Football
Championship
Liam Lawrence

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again