Al Fahim Finally Takes Over Portsmouth

Despite an intervention of a consortium, Arab businessman Sulaiman Al Fahim has completed his takeover of Portsmouth, ending a four-month stint of uncertainty for the club.

Al Fahim is now the club’s sole owner after a buyout worth about £60m, according to media reports.

The 32-year-old, who previously helped broker a deal for Manchester City, had already been named chairman of the club after finishing the drawn-out process of due diligence, following doubts that had been raised over his financial ability to follow through with the offer. The Premier League, too, approved the deal, finally giving Al Fahim the green light on the buyout.

Last week, though, it was revealed that the club was in talks with a new consortium, led by the side’s chief executive Peter Storrie.

With the exit of owner Alexandre Gaydamak, Storrie revealed that his group was unhappy with the outcome. The chief exec affirmed that he will continue working for the club for now, but media reports have revealed that he will be evaluating his own position.

Al Fahim now takes over a club experiencing near ruin, now having lost all of its league games this season thus far and forced to sell star players to reduce a surging debt.