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Latest Info on takeover!

Official Statement issued by Portsmouth Football Club 4th August 2009

























cough























Sorry Paul I jumped in too quick. Got home and was told it was blank! So put it right straight away without thinking.

The Statement reads - In response to today's article in The Sun, Portsmouth Football Club would like to clarify the situation concerning the club's ongoing takeover.

We would also like to stress that The Sun's article was not the result of an interview but the content of a private email.

Regarding the takeover, during this transitional phase the priority is to keep Portsmouth Football Club operating.

This is something we have successfully achieved since the current owner, Alexandre Gaydamak, announced his intention to sell nine months ago. No new finance has been available to us since that time.

The need to meet scheduled loan repayments to banks has meant that the club has had to sell players such as Lassana Diarra and Jermain Defoe in January, and more recently Glen Johnson and Peter Crouch.

While it is our intention to add strength to the existing squad we cannot rule out the possibility of having to sell more players should the takeover not happen.

However, we are assured that Sulaiman Al Fahim is committed to buying the club and investing in all areas, including the playing personnel.

Everyone at the club shares the frustration of supporters. We know only too well that we need to add to the first-team squad, but at this moment in time there is a limited amount we can do until the takeover is completed.

That is why Paul Hart and the team need the support of the fans more than ever in what promises to be a tough season in the Premier League.

We can assure you that chief executive officer Peter Storrie, the board and everyone at the club is working tirelessly to keep the club running as professionally as possible in these difficult circumstances.

SULAIMAN AL FAHIM STATEMENT

In response to recent media coverage, the chairman of the board of Portsmouth Football Club, Sulaiman Al Fahim, would like to stress that he remains committed to completing the acquisition of Portsmouth FC as soon as possible, in keeping with the agreement outlined in the Terms Sheet signed in July.

With regard to the timing of the transaction, Al Fahim stated: "I have always said that we would complete the due diligence process in the course of July and that I would submit to the Premier League my application under the Premier League's 'Fit and Proper Person Test' immediately after the completion of the due diligence. I have duly met both deadlines.

"The current owner and I have agreed and signed the Terms Sheet document, with which the terms of the transaction have been finalised.

"Now we are in the final stages of the transaction and I will exercise every effort to complete it as soon as possible in the interest of both the club and its supporters, who are showing an extraordinary level of loyalty to this great club."


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The Journalist

Writer: paultsmouth Mail feedback, articles or suggestions

Date:Tuesday August 4 2009

Time: 5:28PM

Your Comments

Well there you go, that should put a few minds at rest!
paultsmouth
Ha Ha Ha Ha Ha Ha Ha Ha A bnlank screen is about how i'm feeling! That's made me laugh, cheers Paul.
pentonpompey
And it's accurate!
paultsmouth
But who's the person holding him by the balls to make him cough?
pentonpompey
THERE IS AN OFFICIAL STATEMENT ON THE OFFICIAL SITE!
tracyc
And it tells us nothing Tracy! We are officially in limbo
paultsmouth
It seems to confirm the e-mail was genuine and what Storrie says in it, saying that the top priority is keeping the club going, that players have had to be sold to pay debts, urging fans to keep supporting. It does say 'if' the takeover doesnt go through, more players would have to be sold, but doesn't suggest the takeover won't go through though.
tracyc
pretty evil you got my hopes up and dashed them in an insant =;( but i got to admit still pretty damn funny hahaha
pompeym@
Haha, it did make me laugh, but the tears soon returned to sadness.
pompeywebb
This is as clear and honest as anything you are going to get. Cheers!
hammersmithblue
Too much information
russellm
Yeah....good one Paul. You had me going, I thought the page hadn't loaded properly.
cornypomp
I think that the official statement from PFC is clear and worrying. There is a worrrying silence from Dr SAF's 'advisors' and from the media in the middle east. Is this just purely for the legal side of things OR is something badly wrong? If the sale does go through, we could miss the transfer window, and could be rock bottom by the time January comes around. More information is needed - and fast
Highland_Pompey
The statement says nothing, just that Peyer Storrie was so incompetent to put private finance information out in an uncontrolled manner: TAXI for STORRIE !
russellm
I am a naturally positive person, but this is draining me. Not looking good at all. That lot down the road in red and white at least have a club with new owner, proper facilities in all departments and must be *****ing themselves at our 'Club' at the moment. What a sorry state PFC has allowed itself to be taken to. Aaaaaaaaaaaaaaaaarrrrrrrrrrrrrrgggggghhhhhhh.
putneypfc
I meant clear and worrying in the fact that it says very little to assure us of anything.
Highland_Pompey
Never has so much been said with so few words!
Steve C
Oh PLOP
pentonpompey
oh cr*p
UKTony
There you go all sorted. Not sure what had gone wrong with Paul's article. He is having trouble with the old PC!!
eastneydave
i thought that paul's article was meant to be blank as it showed the statement told us nothing really, well apart from the fact that the club actually now fear its not looking like the takeover will actually happen and more players will go...
pompeyrug
We all have to steel ourselves for the takeover not happening. Perhaps that's why the e-mail was sent/leaked, so that its not such a huge shock when it does. And when it does, we know we can't keep the highest value players. What bugs me though is all this time wasted in limbo waiting for this 'takeover'. Who's to say we couldn't get another buyer.
tracyc
We should know what the sticking point is. But to be fair that is a private matter. However,what was seen at the outset should not be greatly different now- unless porkies w'ere given in the beginning. Or, the buyer has not got the money. That option would cause the Dr. such shame after the publicity etc.. I find that option less likely.
dedmans
Right it is back to what was - plus I have added the statement. Sorry Paul :-(.
eastneydave
that al fahim website is saying hes pulled out, its over.....its on newsnow
ruffcider
that al fahim website is saying hes pulled out, its over.....its on newsnow
ruffcider
First source from SAF now stating the takeover is off! Just been posted, I guess the Bun will print that tomorrow!
L L Blue
it seems like the statement is putting the ball in SAF's court pressurising him to do the deal? does he counter this and say what the score is or just say he is out - my money, sadly (as altho he does not have vast amounts himself he knows people that do...) is on him walking away and if the al fahim blog is right he has done just that?
pompeyrug
more debts were revealed now Al Fahim has said he has abmitted defeat & pulled out as ruffcider has said
pompeyyong
Sadly Rug it looks that way
L L Blue
if he pulls out we go into admin and we all know what that means.... so much for chixs controservial article, it might all become academic (damn i hope not)
pompeym@
I'm not a Portsmouth fan but the situation at your club looks concerning, especially if the takeover does not take place.
arthur7171
From News Now: ollowing one of the most protracted takeovers in footballing history, Al Fahim has now resigned himself to the fact that the Portsmouth deal will not happen. Sources close to Al Fahim report that he has been working tirelessly to pull together sufficient funds, but it has simply not been possible to bring together the required cash. The Due Diligence process identified significantly higher Portsmouth debts than originally envisaged. In addition, the new FAPL Fit And Proper Persons requirement made it significantly more difficult to attract co-investors. Al Fahim has been committed to the takeover and helped convince the club's creditors to defer a crucial part of the Standard Bank repayment - a debt that would have taken the club into administration two weeks ago. As recently ago as last week, Al Fahim was still optimistic about the takeover. However his aides now advise that he has effectively decided to admit defeat and to move on. Oh Sh1t
Et_tu_Pompeii
The only thing I can hope now is that the Blog is wrong as he does have an agenda against SAF.
L L Blue
I'm gutted!
L L Blue
Time for us to do what we do best and support OUR club. Although I am a season ticket holder I was going to give the Rangers game a miss. Now I've changed my mind and bought a ticket. Hope to see you all there!
Pompey Half Pint
Can't say I didn't see this coming, there have been clues everywhere you look. What worries me is the consequencies now. Gaydamak is in the proverbial **** and with no-one in the wings it could be off to the administrators. Also, how come further debts have been revealed, the D/D was thorough and long winded wasn't it? Why didn't Storrie divulge this to SAF, he is getting paid enough to run the business side of the Club. What a waste of space.
Mike1954
So it looks like we actually will end up swapping the FA Cup for Premier League status. We now need to back the team, manager and, alas, Peter Storrie. Bring on Fulham, fight for the shirt, we will win in the end.
Et_tu_Pompeii
Sorry ET_ tu in any other walk of life (apart from MP'S) Storrie should be sacked. If we go into administration we will lose 10 pts. In this league you won't claw that back and survive, ask Leeds, and they are 2 leagues below us.
Mike1954
Another stement on officail web site
L L Blue
At last! Comment from SAF!... SULAIMAN AL FAHIM STATEMENT In response to recent media coverage, the chairman of the board of Portsmouth Football Club, Sulaiman Al Fahim, would like to stress that he remains committed to completing the acquisition of Portsmouth FC as soon as possible, in keeping with the agreement outlined in the Terms Sheet signed in July. With regard to the timing of the transaction, Al Fahim stated: “I have always said that we would complete the due diligence process in the course of July and that I would submit to the Premier League my application under the Premier League’s ‘Fit and Proper Person Test’ immediately after the completion of the due diligence. I have duly met both deadlines.” “The current owner and I have agreed and signed the Terms Sheet document, with which the terms of the transaction have been finalised. "Now we are in the final stages of the transaction and I will exercise every effort to complete it as soon as possible in the interest of both the club and its supporters, who are showing an extraordinary level of loyalty to this great club.” Promising?
putneypfc
It don't say much but don't panic!
L L Blue
At least we have something coming out of FP and they know we aren't happy. I can sleep easy......well for tonight anyway!
L L Blue
Just read what was put on the official Pompey site and have mixed emotions now. Would have been better with the doom and gloom then have that bit of hope left that the takeover could still go ahead for it only not again. Cant take much more of this, its like the worst roller coaster ride ever pup
pom165
Is this a SAF statement or one on his behalf from the club? Is he still in the UK?
bluedr
Its all over the web but Sky have reported it as from SAF
L L Blue
I seriously feel sick. I started reading this, went to check the Al Fahim blog and thought that was it. Then read on and saw that Al Fahim has said he is still in the game. Just don't know what to think anymore. I really hope for the best, but won't expect anything. All this makes you realise just how much you really love this bloody club!
Pompeytim
I couldn't agree more not many things get me out of bed and on a laptop at 8am and still have me on it at 9pm when I'm on holiday. Mind you would have to talk the wife if not.....
L L Blue
The Al Fahim blog is a load of b$ll$cks. Nothing to do with him apparently. Am beginning to think Administration might be a better route believe it not.
putneypfc
To paraphrase the Anfield thing, we should have a big sign where the players exit saying, "THIS IS PORTSMOUTH - DON'T PANIC". After all these tears Freudian slip, should have said, years) we still seem surprised at what happens around our club. Supporting Pompey is not for the faint hearted.
Et_tu_Pompeii
This is doing my bleedin' head in!
ninjatim
I feel a lot better now, I'm sure the doctor will come through for us, he has always done what he has said before so why not now? Sleep easy news of the takeover confirmed soon please!
pompeyyong
no wonder i suffer Pomponius Bipolar
plymouth graham
1 thing IF hes that sure of taking over why not put some bloody money into the club =/ yea i know, i know but at this rate where gonna be on the back foot before we start the season. pff relly glad that he choose hart as the manager i think hes got the characteristics we need for this long fight
pompeym@
I think the same Rug. Storrie is starting to believe that the deal is going to fall through and his back-up plan is to sell players to keep going, otherwise we suck. It was interesting to read something like this on the official side but.
Pompey Malta
Paul that article was inspired .. I'd even go as far as to say it's the best you've ever written :)
Chix
What you're witnessing gents is one guy who overspent himself like a drunk at a stag party, and another who wants to take advantage and get the best bargain he can. There's no way Dr. SAF pulls out at this point, his business prowess would be in shards. As for Sacha, a bad deal is no doubt better than no deal at all. Being businessmen first and foremost, they don't give a toss about collateral damage to us fans but SAF surely does care about what he'll be left with after the storm, as much as Sacha cares about how much he'll still owe (hence the statement of "concern" for us all). No point in worrying about it since there are only two outcomes and I'll bet by this time next week, the happier one (deal going through) will have been announced (all Storrie is doing by complaining is shifting the pressure to the other two, and good on him for doing so). Night all.
Toronto4Pompey
Well another day dawns on the long-running Pompey saga! I wonder what today will bring?? Now that SAF has come out and nailed his colours to the mast again, so clearly for all to see, if he pulls out now he will be left with a great deal of egg on his face. I'm hoping that it is this pride that will carry this deal through regardless. Hoping for a good news day today, but not expecting!
Pompeytim
 

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