Pompey future secured

Portsmouth have emerged from administration after Balram Chainrai completed his takeover of the Championship club.

Pompey's future had appeared in doubt following an announcement on Friday night that they were 'likely' to be closed down and liquidated after a breakdown in negotiations with former owner Alexandre Gaydamak.

It was feared that the administrators would be unable to support Pompey any longer after a deal could not be reached with Gaydamak over unpaid debts.

However, Gaydamak has now signed an agreement with Portsmouth regarding the payment schedule of £2.2million owed to him and the club's future has been secured.

The deal with Gaydamak has allowed Chainrai to finalise his buy-out and has also ensured Portsmouth are no longer in administration.