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Tue 21 Jul 2009 12:08 PM

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Portsmouth FC deal is done

UAE tycoon Al Fahim's takeover bid is approved by the Premier League.

Portsmouth FC deal is done
TAKEOVER SEALED: Portsmouth is due to make official announcement about takeover. (Getty Images)

Sulaiman Al Fahim has completed his takeover of Portsmouth Football Club.Arabian Business understands the English Premier League has given his £60m ($98m) takeover bid its approval and that Al Fahim will officially become chairman of the club later Tuesday.

An official announcement will be made by the club at around 10am UK time on Tuesday.

Al Fahim first signed a deal to take over the club on May 27. The deal is being done through Al Fahim’s investment vehicle, Al Fahim Asia Associates, which is entirely owned by Al Fahim.

Last week, Arabian Business revealed that current manager Paul Hart will be retained in that role. “Mr Hart understands this club better than anyone coming in from the outside and deserves the opportunity to take it forward,” read confidential documents seen by Arabian Business.

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Original Joe 11 years ago

...it is time to open up the wallet Dr. Fahim and buy some players!

Island_boy007 11 years ago

This is fantastic news, after weeks of speculation we can now start to look forward to the new season and to great things in the future. PUP!!! P.s Congratulations Mr Al Fahim on your purchase of our club "The Pride of the South"

richard 11 years ago

I just hope you understand that now Gaydamak has stripped all the best assets from the club namely all our england internationals it will need some quality to replace them not some washed up has beens that you can get for free . In the premier league money talks and bull dung walks its as simple as that . So time to put your money where your mouth is and sign quality. And i think you are making a major bad choice keeping Paul Hart as manager he has been sacked for poor results from everywere he has worked. And you want to take the club forward ??????????????

Manhole 11 years ago

Thank you Dr Fahim for your faith in our club. When Sasha GaydamaK made it clear he had come to the end of his time it was clear that we needed a buy out just to maintain our position and indeed to remove any chance of SA Banks calling in their loan. There is no doubt we overspent in Redknapps era and were left with a huge wage bill which needed removing eg Crouch £70,000 per week. We can never be too harsh on that era however as it did win us the FA Cup. However I believe that your plan is the way forward for a sustainable growing phase for a great club. You have the best fans in the World at the Club they will get behind you. Passion is everything. Good Luck

Mark 11 years ago

Forgive me if I'm missing something but why is this headline news? Someone has brought a smallish club in the UK. It must be a slow news day...

pompey mike 11 years ago

thank you for buying our club. the first thing you must do is replace paul hart as manager with someone who is capable of producing a team that can entertain. portsmouth will be relegated if you let paul hart remain in charge.

Paul 11 years ago

Dr Fahim....welcome to Pompey football club and thank you. With you at the head of the club I'm sure Portsmouth FC will go from strength to strength. I've been a Pompey fan my whole life having been born there and lived there for 26 years. I now live in Dubai where i've been working for the last 10 years. If you're attending any of the Pompey home games at Fratton Park...can i hitch a lift with you in your jet??? Forever Pompey.

Ali 11 years ago

Now he owns Portsmouth, is he going to send some of their groundsmen to help finish building the house in Abu Dhabi I bought from his company?

steven 11 years ago

seems like this was a bit premature, as todate he hasn't brought the club, and now they are now having to fire sell players. oh well it wasn't like you couldn't see it coming!

pompeyrich657 10 years ago

We were all full of dreams when we first heard about the takeover thinking that somebody with money would want to be involved with Portsmouth fc and all we have had since the first bit of news 3 months ago is nightmares........ Its about time SAF put his money where his mouth is and put up or shut up because of him we had a team of brilliant players and now we have nothing as everything has had to be sold... Thanks alot SAF !!!!!!!!!!