Kippreport looks into the new trend and the change in strategyNovember 29, 2015 5:01
A short lived reign?
Sulaiman al-Fahim said he may sell a majority stake in Portsmouth to a Saudi investor amid claims the club is suffering from serious financial trouble.
October 4, 2009 10:58 by Dana El Baltaji
UAE-based tycoon Sulaiman al-Fahim is in the news, again.
On Sunday, he revealed he may sell a majority stake in Portsmouth to a Saudi investor, in spite of being the sole owner of the club for a mere two months, reported The Observer.
Al-Fahim, who was admitted to a Dubai hospital with kidney infection on Friday, said the deal may be finalized by Monday.
The Saudi investor, Ali al-Faraj, reportedly leads a consortium of investors interested in the football club.
Al-Fahim said: “I think by Monday or Tuesday [al-Faraj] will be on the board. His consortium will be a major shareholder. And I will keep a minority.”
“Due to my situation I will need rest and meet them on Monday,” al-Fahim added. “My lawyers are [currently] in discussion with the consortium lawyers.”