Source: SKY_Sports
Pompey set for new owners
// A bit of a hack but it works// The article snippet is wrapped onto a second line, even when #article-sub is emptyif( $("div#article-sub").children().length == 0 ) {$("div#article-sub").remove();} Portsmouth owner Sulaiman Al Fahim is set to sell the club to a consortium being spearheaded by Saudi Arabian businessman Ali Al-Faraj.[LNB] Al Fahim only completed his protracted takeover at Fratton Park a few weeks ago, but has struggled to come up with the necessary investment.[LNB]He had been looking to find £50million to pump into Pompey, who were unable to pay the players' wages on time for September.[LNB]The 32-year-old insists he is still able to secure the promised investment, but has also confirmed Al-Faraj is due to become the club's new owner.[LNB]"I think by Monday or Tuesday (Al-Faraj) will be on the board," Al Fahim told The Observer. "His consortium will be a major shareholder. And I will keep a minority."[LNB]He added: "Still the club can have access to my new funding which will be ready in a few weeks - the £50m announced."[LNB]ConfidentAl-Faraj was part of a consortium that had been fronted by current Pompey chief executive Peter Storrie which failed to buy the club from previous owner Alexandre Gaydamak in the summer.[LNB]Gaydamak opted to sell to Al Fahim, but Storrie is now happy that a deal is close to being agreed which will secure Portsmouth's future.[LNB]Storrie told the Sunday Mirror: "It was imperative that something had to be done to safeguard the future of this club.[LNB]"Portsmouth were completely skint and when it appeared funding from Sulaiman Al Fahim wouldn't arrive in time to stop the club from being put into a perilous situation we had to do something.[LNB]"After prolonged talks with Ali Al-Faraj we eventually came to a solution and subject to all the legal issues being sorted out, I am confident the deal should go through early next week."[LNB]
