By John Sinnott
**Portsmouth owner Balram Chainrai has promised the club “will not close” as it emerged a South African consortium is interested in buying Pompey.**The unnamed group is one of “four or five interested parties” considering taking over the cash-strapped club.
“Balram met the South Africans on Friday and they have promised to provide proof of funds on Monday,” Chainrai’s spokesman told BBC Sport.
“Balram will do whatever it takes to save the club. It will not close.”
The cash-strapped club recently survived a winding-up order, but are due to return to court on 1 March over the winding-up petition.
Chainrai recently became the club’s fourth owner of the season after taking 90% of the club shares after the previous owner Ali Al Faraj defaulted on loan payments due to him.
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"The club have had false dawns before and we have to be certain these funds are genuine. If they aren’t forthcoming we’ll have to look to other solutions.
Hong Kong-based businessman Chainrai is also considering putting together a consortium of his own, but has not ruled out placing the Premier League’s bottom club in administration.
“That’s the least attractive option, but it would enable the club to put their finances in order,” added the spokesman.
Portsmouth are understood to have debts of around £60m and asked why any investor would want to buy Pompey, the spokesman replied: “It’s a Premier League club with a great history and football is a wonderfully exciting business to be involved in.”
Her Majesty’s Revenue and Customs (HMRC) had taken Portsmouth to court over an unpaid tax bill amounting to £7.4m.
As well as the VAT bill Portsmouth is disputing with HMRC, it also owes £4.7m in unpaid PAYE and National Insurance which were not part of the recent court petition.
Eight points from safety, the Premier League’s basement club’s financial woes have meant their players have been paid late on four occasions this season.
The club are also involved in a separate dispute with former owner Sacha Gaydamak over whether they have missed a deadline in paying a £9m chunk of the £28m they owe to him.
The Premier League recently withheld £2m of transfer payments and a £7m slice of television revenue to divert to Chelsea and Watford for the signings of Glen Johnson and Tommy Smith respectively.
The Fratton Park club are also being sued by former defender Sol Campbell for £1.7m for unpaid image rights.