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Al Fahim to seal 60m Portsmouth deal after Premier League gives green light
Published : 21 Jul 2009 11:08:29
Sulaiman Al Fahim will finally complete his takeover at Portsmouth - saving them from becoming the first Premier League club to go into administration. Al Fahim has been given the go-ahead to finalise his £60million buyout after passing the Premier League's stringent new fit-and-proper-person test. A statement read: 'The Premier League can confirm that Mr Al Fahim has submitted all the documentation required to satisfy our fit and proper persons test. 'Based on the information provided the League has found no reason why Mr Al Fahim would be liable to be disqualified as a director of a Premier League club. 'Accordingly we have advised Portsmouth that his appointment may proceed. As with all changes in club ownership the Premier League will continue to monitor any material changes in circumstance.' 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.