Portsmouth Takeover Gets Green Light

Portsmouth have agreed in principle to a takeover by Sulaiman Al Fahim after the United Arab Emirates tycoon passed the Premier League’s fit and proper person test.

Al Fahim has also been named Portsmouth chairman while caretaker manager Paul Hart has been handed a permanent two-year deal at Fratton Park.

Hart replaced Tony Adams last season and led the club to Premier League safety with 17 points from 14 games.

Al Fahim is the sole owner of Al Fahim Asia Associates, the company that will officially own Portsmouth.

The 32-year-old agreed to buy Portsmouth from owner Alexandre Gaydamak in May after the Franco-Russian announced he wanted to sell because he was unable to devote sufficient time to the south coast outfit.

He finally completed a period of financial and commercial due diligence of the club last week.

‘I very much look forward to working closely with the club’s management and supporters to develop Portsmouth Football Club and deliver future success,’ said Al Fahim.

‘The club has a long and fine history of achievement that I intend to build on.’

The Premier League also confirmed it had given the deal the go-ahead.

‘We found no reason why Mr Al Fahim would be liable to be disqualified as a director of a Premier League club,’ read a statement.

‘Accordingly we have advised Portsmouth FC that his appointment may proceed. As with all changes in club ownership the Premier League will continue to monitor any material changes in circumstance.’

Al Fahim was the initial figurehead of the Abu Dhabi United Group when they took control of Manchester City in the summer of 2008, although he is no longer involved at the rival Premier League club.