Portsmouth takeover race hots up as Middle East investors enter bidding

By Sportsmail Reporter

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A group of Middle Eastern investors have become the third bidder for debt-laden Portsmouth.

The Portsmouth Supporters Trust and former owner Balram Chainrai are already working on rival bids for the club.

The deadline for offers to be submitted is Friday.

New dawn? Portsmouth beat Crawley as the takeover deadline draws near

New dawn? Portsmouth beat Crawley as the takeover deadline draws near

'We have received an initial offer from a Middle East-based group and are currently awaiting clarification of financial issues,' said a spokesman for PKF, the club's administrators.

Portsmouth, FA Cup winners in 2008, were in the Premier League as recently as 2010 but were relegated to League One last season after incurring a 10-point penalty for going into administration.

An online report by Dubai-based magazine Arabian Business said the potential Middle East investors had put $20.4 million (12.8m) into an escrow account held by Dubai Bank on August 30.

Here we go: Izale McLeod scored for Portsmouth against Crawley

Here we go: Izale McLeod scored for Portsmouth against Crawley

United Arab Emirates businessman Sulaiman al-Fahim bought Portsmouth in 2009 but his tenure was short-lived during a chaotic period where the club changed hands several times.

The current Portsmouth team is a mixture of youngsters and more experienced players on loan deals or short-term contracts.

The south coast club attracted a crowd of almost 18,000 for their first league fixture last month. They finally gave their fans something to cheer when won 3-0 at Crawley on Sunday - their first league win of the season.

 

 

The comments below have been moderated in advance.

Just hope for Pompey's sake it isn't dodgy Yorkshire investors. Steer well clear !

Click to rate     Rating   10

Zzzzzzzz. Just hurry up, close this ongoing circus down and put them out of business

Click to rate     Rating   25

Kean out!

Click to rate     Rating   4

I really want Portsmouth supporters to gain control of this club

Click to rate     Rating   36

Imagine if the club is acquired by Saudi billionaires. Premier league beware. So much money going into and out of football these days. Only a few clubs are actually making money, so seeming more like a rich man's "private collection" - Jigga, Loyal to the Game, 10/09/2012 18:54 The premier league has, for a long time, been referred to as a millionaires playground. The only thing different now to 20 years ago is that it is a billionaires playground.

Click to rate     Rating   22

Imagine if the club is acquired by Saudi billionaires. Premier league beware. So much money going into and out of football these days. Only a few clubs are actually making money, so seeming more like a rich man's "private collection"

Click to rate     Rating   9

Just hope for Pompey's sake it isn't dodgy Chinese investors. Steer well clear !

Click to rate     Rating   40

Let's hope the football association actually takes some responsibility and ensures whoever is successful is financially viable and suitable so Portsmouth can finally be stable and move forwards.

Click to rate     Rating   57

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