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Sulaiman Al Fahim has resigned as chairman of Portsmouth [ click here to read the full resignation letter ] , as the Premier League club battles for financial survival.
Al Fahim sent the club a resignation letter earlier on Monday.
In the letter, he wrote that he had not been made aware of the club’s financial situation despite repeated requests.
The letter from Al Fahim states that he was "ignored” by board members as he tried to ascertain the true state of the club's finances. "Discussions between board members were taking place on a daily basis and I was not being invited to participate," he says in the letter.
Portsmouth will return to the High Court to defend a winding up order from the Inland Revenue on March 1. It faces debts of over $50m.
Al Fahim took control of the club in July last year but 42 days later sold 90 percent of the shares to Saudi businessman Ali Al Faraj. He stayed on as chairman with a 10 percent stake.
Earlier this month, Hong Kong businessman Balram Chainrai became the club’s fifth owner in eight months.
The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
In those so called democratic (they should change it to Hypocratic) there is freedom of speech but no freedom after the speech.
When the guys speaking... more
Great deal from Nakheel again, pay and get lost :-)
more
The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
@anguilla: Kalba town is part of the Sharjah Emirate.
along with khor fakkan and dibba al hisn.
http://en.wikipedia.org/wiki/Sharjah_%28emirate... more
I am wondering why this article is being published here? it is really useless. anyway, I in certain ways agree with the Mufti. god bless Saudi Arabia more
Tuesday, 18 June 2013 9:27 AM - Faisal@ Henry, enough of whining, the host country does not need you, it is your employer that needs your services and you know well enough that you can be made... more
Saturday, 1 June 2013 11:32 AM - ZainOrganizations like HRW, Green peace, ILO, UNHCR are so self serving that it is amazing they still exist! they spend 60/70 percent of their budgets (meant... more
Thursday, 30 May 2013 7:53 PM - NavinThe problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
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