Latest Info on takeover!
Official Statement issued by Portsmouth Football Club 4th August 2009
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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