• Board will decide whether to give businessman green light
• Club lost Marc Wilson and Tommy Smith in late transfers

Balram Chainrai’s proposed takeover of Portsmouth could take a decisive step next week when a meeting of the Football League board will decide next Thursday whether to ratify the Hong Kong businessman again taking control of the club.

Chainrai was in charge of Portsmouth last season when it was forced into administration during a troubled 18 months, which featured four different owners and severe financial mismanagement, and ended in relegation from the Premier League.

The club exited administration after its creditors voted to agree a Company Voluntary Agreement that pays each of them 20p in the pound over five years, which amounts to around £16m.

If Chainrai does become the new owner he faces a challenge to maintain Portsmouth’s Championship status. An already skeletal squad lost Marc Wilson, the captain, and Tommy Smith during the transfer window before it shut yesterday, with Liam Lawrence and Dave Kitson joining Steve Cotterill’s team.

PortsmouthBusinessJamie Jacksonguardian.co.uk

• Portsmouth sell Boateng to Genoa, who loan him to Milan
• Milan will make move permanent for Ghana international

Kevin-Prince Boateng joined Genoa from Portsmouth today before immediately signing for Milan on loan.

The German-born midfielder, whose impressive displays helped Ghana reach the quarter-finals of the 2010 World Cup, will spend the season at Milan, who have already agreed a deal with their Serie A rivals to make the move permanent.

“Kevin-Prince Boateng is from today a Milan player, arriving on loan from Genoa, but with a buy-out clause in favour of Milan,” read a statement on the club’s website.

The 23-year-old has been training with Genoa in recent days. Earlier this month their owner Enrico Preziosi said: “Our club must have good relations with the big clubs. Boateng will be a Genoa player but will not play with us. We’ll see what club we can find an agreement with.”

The midfielder joined Portsmouth from Tottenham Hotspur in August 2009 and scored five goals in 27 appearances, including a penalty in their FA Cup semi-final victory over his former club.

His season ultimately ended in disappointment, however, as Portsmouth were relegated from the Premier League after suffering a nine-point deduction for entering administration.

Boateng also had a penalty saved in their 1-0 FA Cup final defeat by Chelsea.

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