Portsmouth Deal Near To Closing

Following the protracted attempted takeover of Portsmouth by Sulaiman al-Fahim, the consortium headed by Peter Storrie – which does not include the Emirates-based businessman – could be only days away from taking control, according to media reports.

Regardless of the outcome, however, Fahim has claimed he still intends to remain Portsmouth chairman and take ‘a substantial’ stake in the club, with Storrie’s group expressing a genuine interest for this to happen.

After a rocky year for the club financially, it has been announced that Storrie’s group was in negotiations with the Franco-Russian businessman to buy out current owner Alexandre Gaydamak.

The prospective takeover seems to now have advanced enough for it to have been passed to the legal experts very soon.

“This is a good step in the right direction,” Ivo Ilic Gabara, a spokesman for the 32-year-old said. “Having in mind the best intention of the club, Sulamain al-Fahim agreed to forgo sole ownership. He is engaging in constructive talks with the new consortium with the view to securing the stability of the club as soon as possible. He is very committed to the takeover, the club and its supporters which is why he is attending all the matches during this transitional period.”

Fahim was alongside Storrie in the directors’ box at Birmingham last night to see Portsmouth lose 1-0 at St Andrew’s, and will attend the club’s match at Arsenal at the weekend. Gabara also stated Fahim remains on the Portsmouth board saying: “He is still the chairman of the club.”

Fahim first announced his intentions to take over the club earlier this year and has since taken it through due diligence. The deal then caused an intervention of the consortium after doubts were raised over Fahim’s ability to finance the offer.

 After four months of uncertainty for the club, the recent news hint that stability for Portsmouth is very near.