Portsmouth takeover

[rebel23]

Sulaiman buys up Pompey for £80m
Charles Sale

Portsmouth, whose lavish spending almost put them out of business, were sold to outspoken billionaire businessman Dr Sulaiman Al Fahim yesterday following two days of talks in Rome before the Champions League final.

The negotiations were carried out by Portsmouth chief executive Peter Storrie, agent Pini Zahavi and another major football fixer, Pairoj Piempongsant - the Thai businessman who brokered the deal that saw Thaksin Shinawatra sell Manchester City to the Abu Dhabi United Group.

The setting was the top-floor open-air bar of the Sofitel hotel overlooking the Eternal City. Storrie returned to the UK yesterday morning after a sizeable full breakfast without staying for the match, his job done after a clinching takeover summit on Tuesday night with Sulaiman.

The sale, which is now the subject of due diligence, ensures Portsmouth will not suffer the potential ignominy of being the first Premier League club to go into administration.

UAE property developer Sulaiman was the frontman for the Abu Dhabi United Group after their purchase of Manchester City, whose bold predictions included the signing of Cristiano Ronaldo, before City owner Sheik Mansour opted for a lower profile.

Sulaiman is understood to be paying £80million for Portsmouth through his new investment vehicle, Al Fahim Asia Associates. Pompey had debts of around £65m with £40m owed to the South African Standard Bank and another £25m in loans to current owner Alexandre Gaydamak.

The agreement, just before Standard Bank were due a huge repayment that was in danger of taking Pompey under, means a firesale of players is averted. Instead the club will have unexpected spending power for next season, by when it is likely that manager Paul Hart will have been replaced.

Zahavi, who is involved in more big deals than any other agent, was close to securing a South African buyer for Portsmouth before Sulaiman got the taste for Premier League football ownership from his Manchester City experience.

Link
-

looks like Johnson won't be going anywhere now and more Arabs threatening to spend big money in the premier league :🙂

why don't they buy a proper club?

 

[Ryan]

Expect Paul Hart to be out of a job by September.

 

[Mors]

This is getting out of hand and we might get left behind.

There's now 4 or 5 teams at least, with more clout than us in the transfer market.

 

[Rosco]

Name the 5

 

[Ryan]

[quote author=Rosco link=topic=33813.msg877206#msg877206 date=1243491120]
Name the 5
[/quote]

Oh don't worry, he'll name 5.

It'll be some contrived list of footballing who's who, backed up by absolutely fuck all evidence/fact/stats, and in complete contrast to what every other sane football supporter out there thinks, but you'll get 5 alright.

Take my advice, don't bother arguing once you get the list. Just let it go.

 

[Las Vegas Red]

Ronaldo is off to Pompey then?

 

[Mors]

[quote author=Rosco link=topic=33813.msg877206#msg877206 date=1243491120]
Name the 5
[/quote]

Manure
Chelski
Citeh
And now potentially Pompy if backed by a billionaire

I said 4 or 5.

Those 4 above mean we're looking at being fifth on the financial front alone with our pair of comedy owners.

 

[Mors]

[quote author=Ryan link=topic=33813.msg877207#msg877207 date=1243491338]
[quote author=Rosco link=topic=33813.msg877206#msg877206 date=1243491120]
Name the 5
[/quote]

Oh don't worry, he'll name 5.

It'll be some contrived list of footballing who's who, backed up by absolutely fuck all evidence/fact/stats, and in complete contrast to what every other sane football supporter out there thinks, but you'll get 5 alright.

Take my advice, don't bother arguing once you get the list. Just let it go.
[/quote]

Fucking hell, someone didn't get the shag or was beat by Barca 2-0 last night?

Calm fucking down son.

 

[Rosco]

[quote author=Mors link=topic=33813.msg877214#msg877214 date=1243492427]
[quote author=Rosco link=topic=33813.msg877206#msg877206 date=1243491120]
Name the 5
[/quote]

Manure
Chelski
Citeh
And now potentially Pompy if backed by a billionaire

I said 4 or 5.

Those 4 above mean we're looking at being fifth on the financial front alone with our pair of comedy owners.
[/quote]

you said at least 5 in your pre edited post.

Anyway needless to say I don't agree. Chelsea haven't spent much for a couple of years it remains to be seen whether they'll turn back into big spenders, United can't afford Tevez, we apparently can. City fair enough. Pompey ... who knows?

 

[Mors]

[quote author=Rosco link=topic=33813.msg877219#msg877219 date=1243492614]
[quote author=Mors link=topic=33813.msg877214#msg877214 date=1243492427]
[quote author=Rosco link=topic=33813.msg877206#msg877206 date=1243491120]
Name the 5
[/quote]

Manure
Chelski
Citeh
And now potentially Pompy if backed by a billionaire

I said 4 or 5.

Those 4 above mean we're looking at being fifth on the financial front alone with our pair of comedy owners.
[/quote]

you said at least 5 in your pre edited post.

Anyway needless to say I don't agree. Chelsea haven't spent much for a couple of years it remains to be seen whether they'll turn back into big spenders, United can't afford Tevez, we apparently can. City fair enough. Pompey ... who knows?
[/quote]

I know Ross, I noticed I'd put 'There's now or 5 teams at least' - Obviously missing the 4. So corrected.

Point still stands, if any of those 4 open their chequebook then we're left behind. Manure can afford Tevez, but they're trying to knock the price down on him. Understandably, as I wouldn't wanna spend 35mill + wages on him either.