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Al-Fahim resigns from Portsmouth board
He cited non-disclosure of financial information as the reason for his resignation.
February 22, 2010 4:32 by kippreport
UAE businessman Sulaiman al-Fahim resigned as the chairman of premier league club Portsmouth on Monday, reports Arabian Business. He had a 10 percent stake in the club. Al-Fahim said in his resignation letter that his requests to the club including, “financial information in respect of the Company, including monthly management accounts, and board meetings to be held at which I could be present,” were mostly “ignored.”
The club currently faces debts of over $50 million.
Al-Fahim first bought the club in July last year after three months of negotiations, but sold a 90 percent stake 42 days later to Saudi’s al-Faraj brothers.