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Al-Fahim 'excited' by project

28 May 2009 09:22:20

Al-Fahim 'excited' by project

Prospective Portsmouth owner Dr Sulaiman Al-Fahim is eagerly anticipating embarking on his own project on the South Coast. The Dubai-based billionaire has had an offer accepted by current Pompey owner Alexandre Gaydamak, who has been seeking a buyer for the club since late last year. Last summer, Al-Fahim brokered the buy-out of Manchester City for Abu Dhabi United Group, an investment vehicle owned by Sheikh Mansour Bin Zayed Al Nahyan. Al-Fahim is now, though, poised to take over at Fratton Park, a club said to be £65million in debt, with the sale expected to be completed next week. He said: "I'm excited about the club and I've signed the memorandum. I was involved in the Manchester City purchase but this one is now mine." Portsmouth executive chairman Peter Storrie brokered the deal on behalf of Gaydamak on Tuesday and will now wait for formal legal and financial due diligence before concluding the agreement.


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