Chainrai confident he will get Portsmouth cash back

Hong Kong businessman Balram Chainrai is confident of getting his money back on Portsmouth.

Pompey have debts totalling over £80million and became the first Premier League club to enter administration last month.

But Chainrai told Bloomberg Television: "I don't feel I've lost the money.

"I feel the money is there, I can see it. If the club is alive my money is alive."

Administrator Andrew Andronikou announced 85 job cuts yesterday and promised more if the club is relegated, as seems likely if the Premier League enforce a nine-point deduction for entering administration.

Chainrai admitted his priority is to find a buyer for the 2008 FA Cup winners.

"The main objective is to sell off the club to some consortium or institution or person, who would be able to be responsible enough to stabilise it and run it properly," he said.

"I've heard through my lawyers that they are in conversations with several parties. They are deep into talks that could finalise in the very near future."