New Takeover Bid For Portsmouth
Premier League club Portsmouth could be set for a second new owner in the space of a few months with recent owner Sulaiman Al Fahim set to sell a majority stake in the club to Saudi tycoon Ali Al Faraj.
Arab businessman Al Fahim, who took control of Pompey in August, is expected to retain a minority holding and a deal may be done early next week.
Al Faraj, a property tycoon, is believed to have supplied the club with a £5m bridging loan to pay the players’ wages.
He was believed to be part of a consortium put together by club chief executive Peter Storrie and which was initially beaten to the takeover of the Fratton Park side when former owner Alexandre Gaydamak chose to sell to Al Fahim.
During that time, Al Faraj passed the Premier League’s fit and proper persons’ test for directors of football clubs.
Al Fahim recently told Portsmouth fans he would raise £50m to help the club’s precarious financial position and allow manager Paul Hart to strengthen his squad.
