Chainrai set to take control again of Portsmouth

Balram Chainrai is set to take charge of Portsmouth.

The News of the World says sources believe that Portsmouth, who are a staggering £119million in debt, may yet be able to agree the Company Voluntary Arrangement which would allow them to exit administration without being hit by another points deduction.

But in those circumstances, the most likely outcome is that Chainrai, the club's fourth and last owner of a farcical season, would re-take the reins and stick around to see if Portsmouth can regain top-flight status and attract a higher price.

A Portsmouth insider said: "By supporting the CVA, Chainrai will become the owner. The price of a Premier League team is a lot higher."