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Pompey takeover is now complete!

'The proposed takeover' of Portsmouth Football Club by Dr SAF is no longer the proposed takeover as this has now been confirmed as 'the takeover' of Portsmouth Football Club!

The Pompey Site said: 'the owners of Portsmouth Football Club are pleased to announce that an agreement in principle has been reached over the sale of the club to Al Fahim Asia Associates and, as a result, Sulaiman Al Fahim, the sole owner and chairman of Al Fahim Asia Associates, will join the existing four-member board of Portsmouth Football Club as chairman with immediate effect.'

The 'agreed in principle' part is something that 'could' worry a lot of people, but I would suggest this is not anything major to worry about...

It was also confirmed that Peter Storrie will continue as chief exec.

After all the weeks, strike that, months of waiting, all the speculation, rumour and more often than not dirt slug at the club by the media Portsmouth Football Club is now officially under new ownership.

I am sure you will all join me when I say a warm welcome to Pompey to Dr SAF!

Now we must of course say thanks to Sacha, yep I know that we move forward in a pretty poor financial position but whatever we think now he helped, even if it came at a costs, make many dreams come true...

Under his ownership we, as we had under Milan before him, made steps forward improving on areas that his predecessor had worked on but, and again like Milan before him, unfortunately Sacha did not have the financial muscle to make all of his visions a reality - but he, well both, tried as best they could.

Without these guys at various stages over the past decade or so none of this would have been possible.

Like I say, I know, to be completely honest, both left us in poor financial positions but both had the right intentions, unfortunately they just did not have the financial clout to back up what was wanted.

Either way, now is not a time for finger pointing, what is done is done, we are in the here and now, so what we now do is look forward, not back, to what 'should' be a bright future, which had looked so dark!

We hopefully face the prospect of finally having an owner to make these visions and dreams, you know, the redevelopment of Fratton, training facilities, further improvement on youth structure - basically the infrastructure needed to push on - a reality...

But, and as we have said so many times on Vital Pompey, as we had when we kept saying this deal would also happen, we again say do not expect too much and do not get carried away lets just enjoy this moment and see what the future brings eh!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Tuesday July 21 2009

Time: 11:16AM

Your Comments

P.U.P :-D
best news i've heard today
Aaah, the warm glow of stability. Long may it last. PUP FOREVER
What a relief. Found out I can now go to H & W tonight so it should be a good atmosphere.
Pompey are saved! Happy Days!
Great news. Lets hope we hear all the plans soon. Exciting times ahead!!!
I just hate the words 'agreed in principle'. What exactly does that mean? I know what the sentence means, but what does it mean in this context? I am stillalso fully confused as to what his personal wealth is like - I am not worried about hundreds of millions, but is he indeed a Billionaire, who will be able to spend a couple of million to strengthen the squad, or is he a similar wealth to Milan etc???? The reports seem very confused.
Wakey - enjoy for today - we can worry tomorrow.
yep, like Gandor says wakey, and as the message we gave out lets just enjoy the fact that it is done - 'in principle' for me means that sacha is just waiting for his money from Dr SAF, which he will get...
The news we have all waited for, way to go Pompey etc etc ! But I'm not going to get excited , one thing still worries me, has the loan to standard bank and other other debtors been repaid? where has all the money from player sales gone over the last year, if as reported the pot was empty? so before we get carried away, the only perceived change I can discern is that Sascha Gaydamak is not going to be short of a few bob and unless Pompey repay 30M back to standard bank this week we will still be in administration next week. What I want is a statement saying we are free of the debt, or at least some clarification from Peter Storie on the clubs financial position. Ill get carried away when we know that. PS can't wait till tonight's game at H&W, I'm sure it will be a bit of a party atmosphere and the cameras from the worlds media are bound to be there, so please dress and support the club appropriately ;-)
It'll be fine...Have a Pitza!
YOOHOOO takeover complete! now can ppl stop crapping on how we are destined to get relegated..
A great day. Let's all look forward to better communication, more realistic progression and many more seasons a) in the Premier League and b) above the Sc*m!! What a rollercoaster. Have been checking this website almost hourly for weeks now!
Wonderful news, just bl00dy marvellous news. Time to move on with a smile in our heart. Bring back the pride that went missing.
Hopefully before long we can talk about who should be left back this week or should we play 4-4-2 or 4-3-3, etc. rather than financial matters. Even though I'm an accountant I follow football because I love football - and not financial statements!
Two fingers at the national and local press **PUTS TWO FINGERS UP**
Yep - It is done but (and I think we are) we must keep our feet firmly on the floor. All that has happened is that thanks to Dr SAF the wolves of adminstration are no longer gnawing at he door. Doog make a good point about the bebt situation .. How they been repaid ? Will they be repaid or refinanced - We still need a lot of answers to a lot of questions but at least now we can focus on the squad and he might come in I'm taling numbers just numbers the quality (or lack of) those numbers is another debate...
.. Jeez my typing is awful.. anyway.. one interesting point about the OS communication - It mentioned the existing board, it mentioned Peter Storrie but it did not mention Paul Hart surely if he was staying as manager that would have been the statement to say it ...
Great news and congratulations to Rug (and the team) for keeping it 100% here on Vital Pompey!!

Also this was the FIRST site on Newsnow to make the announcement after the Official Site broke the news. Yet another reason why ALL Pompey fans should come to Vital first for their news.

If the Doc is as passionate about PFC as Milan was (pity he wasn't a billionaire) then we can expect a bright future.
doggo, (someone will confirm no doubt) but I thought Gaydamaks Standard bank was a personal loan. He can borrow the money from his Dad if it is!!! Once the I's are dotted and the T's are crossed, no doubt they will be soon. We can talk about football for a change. Lets know your plans SAF!!
plymouth graham
On who, when, and how much are we gonna spend...don't hold out too much hope.....just seen the Pink goalie shirt...who decides these things? if it was'nt bad enough wearing the shirt we wore as were relegated from the 2nd division to the fourth, we are now wearing Pink again- last seen ooh oh yes when were RELAGATED from the first division with Ballie....I think Dave should be a historical advisor.
plymouth graham
Thank heaven. I'd say Sacha has a lot to proud of, despite the money worries. Winning a FA Cup is something we won't forget in a hurry I'm sure. While none of us (I hope) are expecting a Citeh type spending spree, there's an expression out here that goes " you can't run with the big dogs and pee like a puppy in the morning" so with 40 days or so left in the transfer window, I hope Dr. SAF and his crew make enough $ available to at least get us a squad that keeps us solidly mid table for the season. No more player exits please. The bleeding has stopped, now lets get the recovery started. PUP !
If it's "agreed in principle" it does not mean it's complete. It basically means that one party agrees to sell to another for a given price on the premise that nothing untoward becomes apparent - "agreement in principle" is not a done deal. Just be patient and let's keep our feet on the ground until the ink is dry.
About freakin' time!
Good for you. It was about time. Now you just have to sort out the manager and player issues. Good luck.
This is not the beginning of the end nor is it the end of the beginning...oh what else did Churchill says...we will kill them on the ebaches, yes, that's more like it!
at last, been a bit of a saga for you eh?!?!
the fear
At last indeed - thank goodness for that - now we can get on with the supporting Pompey. Doggo - I will be dressed appropriately, its the Pompey shirt and the H&W scarf - it looks a bit but isn't really!
NinjaTim is right it is "agreed in principle" but hopefully that will not cause any problem. Deal was pushed through to avoid any Administration problem I would expect.
yep, maybe i should have worded the title differently - the 'agreed in principle' is something that most have cottoned onto, and has been highlighted, but i didnt want to highlight it too much to cause any extra undue stress or concern for people, it will be fine tho...

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