Source: Telegraph
Sulaiman alFahim says Portsmouth selloff 'in club's best interests'
Al-Fahim has been trying to raise fresh finance amid looming deadlines to a variety of creditors and, having been loaned £5 million last week by the Saudi Arabian al-Faraj brothers, has instructed his lawyers to open talks today.
It means that Portsmouth are heading for a third new owner in the space of two months.
“I can confirm that lawyers are engaged in talks and Sulaiman expects that an offer will be made,”aAl-Fahim’s London-based spokesman Ivo Gabara told Telegraph Sport. “He is willing to consider an offer. In the best interests of the club, he is willing to forego full ownership. If and when an offer is on the table, it will be considered on its merits.”
Telegraph Sport reported on Saturday that the al-Faraj brothers wanted to take control of Portsmouth after making it clear that they were not willing to find further loans to al-Fahim without some say in the future.
It is understood that al-Fahim, who is in Dubai recovering from an operation to have his kidney stones removed, will retain a minority stake of around 10 per cent and keep his place on the club’s board.
Having failed to pay the players their wages on time last month, Portsmouth also owe around £3 million to agents Pini Zahavi and Jonathan Barnett and face deferred payments on players transfer to other Premier League clubs.
Chief executive Peter Storrie admitted last week that the club had no more money, with al-Fahim having been trying to raise £50 million.
The al-Faraj brothers had been the main backers in the consortium that Storrie put together in August as an alternative to al-Fahim and are part of one of Saudi Arabia’s wealthiest families. A deal with al-Fahim is expected to be finalised this week.
