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SBD Global/August 16, 2012/Franchises
Hong Kong Businessman Withdraws Bid For Portsmouth FC, Leaving Future In Doubt
Published August 16, 2012
LAST CHANCE: The London GUARDIAN reported that the club's "last chance of survival appears to be an alternative bid" by the fans group Pompey Supporters Trust. The trust, which has the backing of a £1.45M ($2.3M) loan from the council, reacted positively to the news of Chainrai's withdrawal, calling it potentially "the light at the end of the tunnel." A trust statement read: "We call on Mr. Chainrai to do the decent thing and accept the PST offer to purchase his charge on the club, and therefore walk away from Pompey, regaining some of the money he has lost, and leaving the club in the hands of the people who will truly cherish it and ensure that it continues as both a business and a legacy for the future" (GUARDIAN, 8/15).