Source: Telegraph
Sulaiman al Fahim exit plan reports surprise Portsmouth
Al Fahim, who owns 10 per cent of shares in Portsmouth, is reportedly set to resign from his role as non-executive chairman at Fratton Park and hand over his holding to the fans' group. [LNB]Portsmouth director of communications Gary Double said: "This is news to the club. We have not been informed of Sulaiman's intention to resign from the board. [LNB] Related ArticlesPortsmouth talks continue as administration loomsPortsmouth check out potential buyersPortsmouth 1 Stoke City 2Premier League tablePremier League actionPremier League fixtures"Last week he was reported to be interested in buying the club again. It is something of a surprise." [LNB]The Dubai businessman is one of four people to have owned the ailing Premier League club this season, having taken over from Alexandre Gaydamak last summer before selling a majority stake to Ali Al Faraj. [LNB]Despite relinquishing ownership to Al Faraj, he retained a minor interest in the club and was also given the non-executive chairman role. [LNB]Portsmouth could soon have a fifth owner in the 2009/10 season after chief executive Peter Storrie revealed he is waiting to receive proof of funds from a South African consortium. [LNB]"It's a very simple, straightforward position," Storrie said. "As far as general negotiations are concerned that's about complete. It is now all about proof of funds. [LNB]"If proof of funds can come through bona fide banks then (current owner) Balram Chainrai is in London and is prepared to push ahead and get the deal done. [LNB]"The ball is very much in their court to show us they have the actual funds. [LNB]"We've gone through too many things over the last year, people that have come in who have said they have the funds to take the club forward, when they haven't. [LNB]"This is all about proving to us, the board and the owner, that the money is there to take the club forward. [LNB]"To be fair to them they have provided proof of funds through a lawyer, but we need to see it from a bank. We need to see it, the Premier League need to see it, everyone needs to see it." [LNB]Colin Farmery of the Portsmouth Supporters' Trust revealed his organisation had been speaking to Al Fahim but nothing definite had been decided. [LNB]Farmery said: "It was initially mooted at a meeting in November and he went public with this idea in January. [LNB]"As a group we had a meeting with Mr Al Fahim in January, before the West Ham game, where we discussed his offer in a little bit more detail. [LNB]"At the moment nothing is signed, sealed and delivered. This is very much something that is still in negotiation and ultimately will be something that the Trust will need to make a decision on. [LNB]"Clearly a 10 per cent stake in a football club has got to have some significance and as a Trust our remit is to act in the best interests of the club." [LNB]
