However, the club was unaware on Friday morning that Al Fahim was facing surgery.
Portsmouth's players were due to be paid on Wednesday and the club initially claimed this had not happened because of technical problems.
However, the club later explained that wages were not paid on time because of "a delay in the transfer of funds" after banks demanded TV receipts and profits from the last transfer window, meaning Al Fahim needed to refinance the club.
The Premier League is understood to be monitoring the situation and looking to see if Pompey fulfil the financial criteria set out to its clubs, while the Professional Footballers' Association will deal with any contractual issues if players are not paid.
"It is very disappointing to all of us that the players have for the first time had to wait for their contractual remuneration for reasons entirely outside the club's control," read the statement from Pompey's executive board.
"It is through the joint efforts of the executive directors that we are in the final stages of securing funding that will allow the club to meet these contractual obligations.
"It is clear that in order to ensure that the club is able to secure its longer-term future, a more permanent financing solution needs to be found quickly as the executive directors consider it an obligation to the club's loyal employees and fans, who undoubtedly feel equally disappointed.
"In order to achieve this we will continue to work closely with the owner's lawyers and associates in delivering the finance that is needed over the next 10 to 14 days. Ultimately the responsibility to deliver this remains with the owner."
According to minutes from a meeting on Friday between Al Fahim and the Pompey Virtual Alliance (PVA) - a group of fans' websites - the club's new owner is willing to work with other investors in Portsmouth.
That news was greeted positively by fans, who have seen Paul Hart's men lose their first seven Barclays Premier League matches of the season.
There have been constant doubts about the financial stability of the club since Al Fahim's takeover in August.
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.