Source: Daily_Mail
Al Fahim to seal Portsmouth takeover and save club from administration
Sulaiman Al Fahim will finally complete his takeover at Portsmouth today - saving them from becoming the first Premier League club to go into administration.
Al Fahim was last night given the go-ahead to finalise his £60million buyout after passing the Premier League's stringent new fit-and-proper-person test.
It comes just in time to stop South African-based Standard Bank calling in the administrators to reclaim an unpaid £30m loan.
Bank officials are believed to have contacted Pompey on Friday to demand repayment by the end of this week. In a further twist it has emerged the Premier League's checks have scared off the mystery backers Al Fahim had lined up.
The investors wanted to remain anonymous but, under league rules, anyone with over a 10 per cent stake in a consortium must be
identified and undergo the test.
This means Al Fahim will struggle to make any big-money signings.
