BBC Sport football

IN ASSOCIATION WITH

Related BBC sites

Page last updated at 18:39 GMT, Wednesday, 27 May 2009 19:39 UK

Portsmouth agree to takeover bid

Sulaiman Al Fahim
Al Fahim helped broker the deal which saw Man City taken over

Portsmouth have accepted a bid from United Arab Emirates businessman Dr Sulaiman Al Fahim to buy the club.

The move follows negotiations led by Portsmouth executive chairman Peter Storrie on behalf of club owner Alexandre Gaydamak.

Al Fahim was the initial figurehead of the Abu Dhabi United Group when they took control of Manchester City last year, but is now acting for himself.

The club has not released any details of the figures involved in the deal.

Portsmouth will now wait for legal and financial formalities to be completed.

"A period of formal legal and financial due diligence will commence next week," said a club statement.

"We cannot make any further comment on the future structure of the club until this period has been completed."

Portsmouth added that they hoped the deal will be concluded "as soon as possible" after the talks, which were held in Rome.

606: DEBATE
Pompey-CKy

Gaydamak, who has been at the club since January 2006, said late last year that he wanted to sell.

The Franco-Russian initially bought into Pompey as joint owner when he struck a deal with then-chairman Milan Mandaric.

He then bought out Mandaric, who now owns Leicester City, for about £32m.

Under Gaydamak's ownership Portsmouth won the 2008 FA Cup but he says he can "no longer invest the time required to oversee the running of the club".

Since the FA Cup victory, Portsmouth have seen Harry Redknapp depart to manage Tottenham, while his successor Tony Adams lasted just 16 games in charge.

Paul Hart replaced Adams at the helm and guided the club to Premier League safety, but his future at the club is still up for discussion.

Gaydamak had earlier stated that he had rejected two offers for Pompey, as he wanted to sell to a buyer who would be committed to funding a new stadium and training ground for the club.

Al Fahim has previously been linked with an audacious bid for Chelsea.



Print Sponsor


see also
Hart backed to get full-time job
18 May 09 |  Portsmouth
Pompey pay for chasing the dream
11 Feb 09 |  Portsmouth
Portsmouth confirm Adams sacking
09 Feb 09 |  Portsmouth
Adams named new Portsmouth boss
28 Oct 08 |  Portsmouth
Pompey offers yet to materialise
20 Nov 08 |  Portsmouth
Gaydamak ready to sell Portsmouth
07 Dec 08 |  Portsmouth
Gaydamak sets out Pompey strategy
17 May 08 |  FA Cup
Tottenham sack Ramos for Redknapp
26 Oct 08 |  Tottenham
Portsmouth 1-0 Cardiff
17 May 08 |  FA Cup
Gaydamak buys out Pompey chairman
19 Jul 06 |  Portsmouth
Arab group agrees Man City deal
01 Sep 08 |  Man City


related bbc links:

related internet links:
The BBC is not responsible for the content of external internet sites


BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.