It had looked like a consortium led by the club’s chief executive Peter Storrie was set to complete a deal for the troubled side. However, Al Fahim – appointed chairman at Fratton Park after passing the Premier League’s “fit and proper person” test – claims he has now formally taken full control.
“Devondale Investments, the current owner of Portsmouth FC, and Al Fahim Asia Associates Ltd. (AAA), a company fully owned by Sulaiman Al Fahim, Chairman of the Board of Portsmouth FC, have reached an agreement whereby AAA has become the new sole owner of the club,” said a statement issued by Al Fahim’s representatives.
“Sulaiman Al Fahim welcomed this agreement and looks forward to helping the club build on its impressive history and achieve new successes in the Premier League.
“The chairman of the club would like to extend his gratitude to the players, staff and the supporters of Portsmouth FC who have shown an extraordinary level of commitment and loyalty to this great club.”
The club were forced into selling a number of their players in the past year, including Glen Johnson, Peter Crouch and Lassana Diarra to balance the accounts, and this has hindered the club’s development. So far this summer Hart has spent no money, the only arrivals to the squad have been free agents and loan deals.
Paul Hart’s side are currently rock bottom of the Premier League, but the late timing of the takeover may destine to club to a relegation battle for the season.