Troubled English football club Portsmouth has signed their fourth owner in less than a year, with Hong Kong businessman Balram Chainrai taking over a 90 percent share of the club.
Chainrai has taken the shareholding that was held by Ali al-Faraj after he triggered a clause when he did not receive repayments of a close-to $40 million loan he made to the club via his company Portpin.
Portsmouth says Chainrai's ownership is just a temporary measure, and has lent al-Faraj the money to keep the club going.
Portsmouth says al-Faraj will now come in and stabilise the club before looking for a new owner as soon as possible.
Portsmouth are currently banned from buying players because of money owed to other clubs while the players and staff have regularly had their salary payments delayed this season.
They're currently last on the Premier League table.
