Further information has emerged about the terms of the Portsmouth FC takeover. It appears that despite his best efforts, Al Fahim was not able to convince co-investors to join him in the purchase of the deal - the new FAPL rules which required all investors to be named did not help Al Fahim pull the funding together. Al Fahim was apparently very keen to be the owner of the football club and but was not able to bid the original proposed amount for the club. There would also have been some serious loss of face for Al Fahim if he had pulled out (coming on the back of his recent removal from his role of Hydra CEO).
With Sacha Gaydamak (the Portsmouth owner) keen to ensure the club paid back the money he had loaned it and Al Fahim not able to pay the original price, the deal looked to have floundered. However a way forward has been found which enables Al Fahim to pay a considerably reduced amount for the club and Gaydamak to receive most of the money he is owed via the sale of players.
It is understood that Gaydamak will also receive a portion of the money coming the club from Sky TV in September.
Al Fahim has managed to buy the club but has considerably stretched his financial capabilities. Portsmouth fans should not expect any expensive signings as Al Fahim tries to keep the club in the Premiership on a very limited budget.
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wheres your proof??
ReplyDeletewho are you and why monitor someone with no apparent agenda to this action?
ReplyDeleteI can't quite figure out how you would know such much and have such access to information close to Al Fahim and then have such vitriol against him to post this. Something doesn't add up. Whatever your motive you should either be a top investigative journalist or a fiction writer as your stuff makes as much sense as the De Vinci code. I would welcome some debate on your views.
ReplyDeleteThere are plenty of people that have done business with Al Fahim in the UAE and been left high and dry. He is king of the PR spin but has actually done very little that is tangible. He is not as wealthy as he makes out but merely keeps a high profile in the media.
ReplyDeleteIf I were a Portsmouth fan I would be very worried about what this man will do to the club. Where exactly has he made all this money he claims to have?
ReplyDelete