PORTSMOUTH no longer own Fratton Park, it has been reported today.

It is claimed that Balram Chainrai has written off £10m of the £17m Pompey owe him.

In exchange, he has taken ownership of the ground.

Mr Chainrai has leased the venue back to the club over a period of 15 years.

The club will have to pay him £1m a year to rent the facility.

Meanwhile, a South African consortium is 'in pole position' to take over the club.

Peter Storrie has claimed that Monday will 'be a key day'.

Last Monday, Mr Storrie said he expected a takeover to be completed within 48 hours.