Al Fahim quashes Newcastle United rumour

[Craig 6700]

Sulaiman Al Fahim today denied he wants to pull out of a deal to buy Pompey and turn his attention to Newcastle.

 

Speculation was growing today that Mike Ashley's decision to reduce his selling price to £100m for the Magpies had reawakened interest from the Arab tycoon.

 

Al Fahim held talks with Newcastle at the end of last year, but was put off by the £400m price tag Ashley then had on his club.

 

News of interest from a middle east consortium for the relegated outfit prompted the suggestion the 31-year-old was again keen on a takeover at St James' Park.

 

But sources close to Al Fahim dismissed the talk as 'scurrilous rumours', and told The News plans to buy Pompey were continuing as planned.

 

The source said: 'The interest in Newcastle was in fact several months ago.

 

'The news of a substantially reduced price and that interest has got people talking again, but there's not any substance to it.

 

'Portsmouth are in the Premier League and Newcastle are in the Football League.

 

'Anything else is people putting two and two together and coming up with five.

 

'They're scurrilous rumours. The doctor is still fully committed (to Pompey).'

 

Former Blues hero Paul Walsh warned fans not to get too carried away about the prospect of Al Fahim's takeover until it was completed.

 

Walsh, now a respected pundit for Sky Sports, admitted he had heard the rumours of the Arab's interest in Newcastle.

 

He said: 'I'd still be a bit concerned by Newcastle.

 

'The takeover is not finished and the due diligence process does give the him the chance to back out.

 

'Obviously it's an exciting time for Portsmouth supporters.

 

'If the takeover goes through it's all go, and that will be unbelievable news in terms of players, the training ground and stadium.

 

'But you have to wait until it is all done and dusted.'

 

Source: http://www.portsmouth.co.uk/frattonlatest/...ited.5328010.jp

 

[ewerk 31587]

We might be in the CCC but has he actually visited Portsmouth to see the state of Fratton Park?

Edited June 3, 2009 by ewerk

[Craig 6700]

Not going to be their ground for long. They've got planning permission for a brand new ground up at Port Solent - very salubrious location and a million miles better than Fratton.

[Park Life 71]

Not going to be their ground for long. They've got planning permission for a brand new ground up at Port Solent - very salubrious location and a million miles better than Fratton.

 

Plus as I said somewhere else the area has renovation status from the EU iirc (money will be flowing).

[Craig 6700]

Not going to be their ground for long. They've got planning permission for a brand new ground up at Port Solent - very salubrious location and a million miles better than Fratton.

 

Plus as I said somewhere else the area has renovation status from the EU iirc (money will be flowing).

 

Yep - it's going to be on reclaimed land at the very north of Portsmouth Water. Awesome location in terms of transport infrastructure, finances, etc.

[Gemmill 47056]

He's welcome to Portsmouth tbh. If money is no object to him though, buying us and investing heavily is the no-brainer correct decision. Championship or no Championship.

[Park Life 71]

He's welcome to Portsmouth tbh. If money is no object to him though, buying us and investing heavily is the no-brainer correct decision. Championship or no Championship.

 

Agreed.

[ewerk 31587]

Not going to be their ground for long. They've got planning permission for a brand new ground up at Port Solent - very salubrious location and a million miles better than Fratton.

 

Their current plan is to increase Fratton Park's capacity to 30,000, plans for a move have been put on the backburner.

[Craig 6700]

Not going to be their ground for long. They've got planning permission for a brand new ground up at Port Solent - very salubrious location and a million miles better than Fratton.

 

Their current plan is to increase Fratton Park's capacity to 30,000, plans for a move have been put on the backburner.

 

Aye, only until the infrastructure is put in place though. Needs a new motorway exit creating.

 

Word is that they're actually going to rotate the pitch at Fratton Park so that the Fratton End will actually become the main stand. Odd if you're planning to ditch the place eventually IYAM

[ewerk 31587]

Aye, I read an article about it the other day.

 

I think the problem with the infrastructure is that there are no immediate plans to put it in place, at least not until there are other developments confirmed for the area. Also, building the stadium at Port Solent would require a public inquiry which could take a few years. I'd say it'll be at least 6-7 years before they move into a new stadium.

[Craig 6700]

They're talking about having it ready for the World Cup in 2018 (IF we get it!)

 

Redevelopment of Fratton Park is scheduled to be completed by the end of 2011/12 so they've got at least 3 years where they are.

[peasepud 59]

He's welcome to Portsmouth tbh. If money is no object to him though, buying us and investing heavily is the no-brainer correct decision. Championship or no Championship.

 

Agreed.

if you're doing it for fun and not profit then why waste a year hassling with the championship?

[Gemmill 47056]

He's welcome to Portsmouth tbh. If money is no object to him though, buying us and investing heavily is the no-brainer correct decision. Championship or no Championship.

 

Agreed.

if you're doing it for fun and not profit then why waste a year hassling with the championship?

 

Where's the fun in owning Portsmouth?

[Asprilla 96]

To be fair, Portsmouth has a huge amount of potential from a development point of view. Near enough to London, sailing over to France, better weather etc.

 

The football club isn't as big a name as us but a big name doesn't count for very much when everything else is going down the shitter.

 

 

I've lost a lot of love for football over the last few years, it's really now a game of monopoly and if you get a good buyer you can have hotels and if you don't you just keep rolling your miserable way round the board trying to hang on to your Stations. My only hope is that at some point, a few of the clubs that have been pumped full of funny money implode and we can do well from a more sustainable base (ie fan ownership etc). We may have to fall a few more leagues first but right now I think I prefer that dream than our club being owned and used like a cheap tart.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[The Fish 11070]

He's welcome to Portsmouth tbh. If money is no object to him though, buying us and investing heavily is the no-brainer correct decision. Championship or no Championship.

 

Agreed.

if you're doing it for fun and not profit then why waste a year hassling with the championship?

 

Where's the fun in owning Portsmouth?

 

[Gemmill 47056]

If I bought them, the first thing I would do is have him killed.

[Craig 6700]

If I bought them, the first thing I would do is have him killed.

 

[Jimbo 175]

Portsmouth still in limbo over Fahim takeover deal

 

Dr Sulaiman al-Fahim has denied that his proposed takeover of Portsmouth is a publicity stunt but has admitted that the deal may yet fall through should issues arise from the ongoing process of due diligence. Fahim accepts the process is more complex than he initially thought and will not be finished until next month, leaving the club in limbo with regard to making a full-time managerial appointment –Paul Hart is still only temporarily in charge – and any transfer business.

 

"What I can tell you is that the timescale hoped to complete due diligence [will be] in the course of July," said Ivo Ilic Gabara, a spokesman for Fahim. "Any process is open to any outcome. The due diligence process is a serious process after which the two parties decide whether to complete the understanding reached [under] the memorandum of understanding.

 

"But then you have accountants, lawyers, the other party – how can you control whether the other party [the current owner, Alexandre Gaydamak] at the end of due diligence is still going to be interested in selling? What I can say is that Al-Fahim very much wants to complete the process and sees a great future for the club."

 

Fahim is brushing aside the complaints of the Hydra Investors Facebook group, a 200-plus coalition of disgruntled customers upset at their treatment over Hydra Village, a development in Dubai built by Hydra Properties, of which he is the chief executive officer. Fahim believes that as Fahim Asia Investments, which wishes to buy Portsmouth, is a separate concern, he will pass the Premier League's fit and proper persons test.

 

However, although the league is yet to make contact, Fahim has accepted that he may have to reveal who the backers of his investment vehicle are, a condition that may threaten the deal as he has previously stated they were involved on condition of anonymity. "We'll meet the full requirements of the Premier League," said Gabara. "If there are investors that fall within the criteria for disclosure under league rules we'll disclose them."

 

Fahim fronted last summer's takeover of Manchester City by Sheikh Mansour but was sidelined for off-message claims. But Gabara denied that Portsmouth fans should question whether this is a stunt. "Certainly not. Whoever spoke about a stunt? He was engaged to broker the deal [with City] which he did very successfully. This is a very serious [transaction] that also has social implications for the club and its fans for which Al Fahim has given serious and thorough consideration."

[ewerk 31587]

Due diligence is for poofs. [/Ashley]

[Dr Kenneth Noisewater 0]

If I bought them, the first thing I would do is have him killed.

 

Can a photoshopperist change the badge on his had to say "I'm a massive cunt"

[Tom 14021]

[Dr Kenneth Noisewater 0]

[Jimbo 175]

THE Premier League's chairman faces an investigation into his links with the proposed £60million takeover of Portsmouth FC.

 

A shock Sun probe today reveals how Sir Dave Richards, one of the most powerful men in English football, has assisted in a deal that is looking increasingly murky and may even be blocked by his own organisation.

 

Fears are mounting that disgraced former Thai Prime Minister Thaksin Shinawatra, the man who took over and was then forced out of Manchester City, could be linked to the takeover.

 

Two of the men involved in City's Shinawatra fiasco are now at the centre of the proposed Pompey deal - and Richards played an integral role in bringing them all together.

 

Under new powers, the Premier League can veto takeovers if they are not satisfied they know the identities of everyone involved.

 

But they now face the ludicrous prospect of having to quiz their own chairman to find out what is going on and to rule out any suspicions Shinawatra might be a part of things.