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Does this mean it is done?

SAF this afternoon announced that he, well Al Fahim Asia Associates Ltd, had assumed complete control of Pompey - this saw no official statement issued for some time, then one that was on soon went off again as it 'appears' the official site crashed?

The Pompey Site is now back up and running and this contains a brief statement that says an 'agreement has been reached' - does this actually mean this takeover is finally complete...

All the way through SAF and his people have maintained that they would assume control, but it was looking like Peter Storrie's rival consortium was coming in, but it seems as though he has been beaten to the punch!

Quite what this means for his future with Pompey (and he is said to be on The Quays football hour tonight, although I cannot pick this up), and maybe even Paul Hart's, who both questioned SAF's ability to complete this deal - I am assuming the statement confirms this is done? - only time will tell.

Anyway, below is what the statement says - so I guess we now have to welcome SAF as our new owner? No more talking, no more promises of this and that lets see actions...

PLAY UP POMPEY!

==========

PORTSMOUTH FOOTBALL CLUB STATEMENT

Devondale Investments, the current owner of Portsmouth FC, and Al Fahim Asia Associates Ltd. (AAA), a company fully owned by Sulaiman Al Fahim, chairman of the board of Portsmouth FC, have reached an agreement whereby AAA has become the new sole owner of the club.

Sulaiman Al Fahim welcomed this agreement and looks forward to helping the club build on its impressive history and achieve new successes in the Premier League.

The chairman of the club would like to extend his gratitude to the players, staff and supporters of Portsmouth FC who have shown an extraordinary level of commitment and loyalty to this great club.


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Wednesday August 26 2009

Time: 6:34PM

Your Comments (oldest first)

Change to most recent first
Usually a statement like this on the official site means exactly what it says, but now there are still doubts, is this the way its going to be from now on?
tracyc
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26/08/2009 18:39:00

Tracy, I can't find the SSN story you referred to.
NinjaTim
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26/08/2009 18:42:00

Who knows Rug. We will probably get a statement tomorrow from Saffy saying "We only said we reached agreement - I never said it was completed". Its all so slippery. However, Storrie is so deflated on The Quay (nearly in tears) and doesn't seem to have any fight left in him, so I am not expecting him to rally his troops and make a last minute snatch from he jaws of.... well, Saffy.
Gandor1
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26/08/2009 18:44:00

It was on the Sky News channel about 5.30 or so - Sam Matterface was on and introduced someone who talked about 'reports' that it was just an exchange of contracts. But I couldn't see it on their website either.
tracyc
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26/08/2009 18:45:00

I missed the first half of the football hour tonight, I'm hoping to get it on the catch up thingy later. It sounds like it's bad news from the Peter Storrie point of view, and that's a great shame.
tracyc
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26/08/2009 18:47:00

I think it is done and SAF is the new soul owner.
PompeyFcMad
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26/08/2009 18:49:00

Whos is this Ali Al Faraj anyway? He is the major backer in Storrie's bid, just wondering if anyone knew anything about him and if he has more money than Saf?
moley2
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26/08/2009 18:49:00

If this deal is done, then SAF needs to dig deep prior to the window closing.....January may just be too late. If he is the owner, then he doesn't have 14 days (the normal exchange of contracts to ownership time) to sort things out. Come on OWNER (whoever you are) Stop treating us like mushrooms, give us a press conference to lay out your plans (youve had 3 months already) and inform us what's going on, Get PS confirmed as Exec Chairman, and give the man some funds to IMPROVE the playing staff, not just enlarge it !!
BarneyArmy
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26/08/2009 18:50:00

Spot on Barney.
NinjaTim
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26/08/2009 18:53:00

Tracy, full quay interview will be available from about 9pm on the quay website....well worth a listen for anybody that doubts PS feelings for our club! I'm still thinking of the Wolfsburg trip (happy days), where did it all go wrong?????
BarneyArmy
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26/08/2009 18:57:00

"One Peter Storrie, there's only one Peter Storrie..."
NinjaTim
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26/08/2009 19:22:00

Bye Bye Storrie, Storrie Bye Bye!
bluedr
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26/08/2009 20:17:00

It's worth reminding that it will take two weeks for the full transfer of ownership to take place, like it did with Man City
arthur7171
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26/08/2009 20:42:00

So who's funding the signings we're supposedly making then?
moley2
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26/08/2009 20:51:00

Also I think I would have prefered PS consortium taking over. If Saf has had this money all along then why has it taken him til now to exchange contracts. My opinion, just to save face! I don't think he'll take us on as he obviously doesn't have enough finance to take the club forward. I hope to god I'm proven wrong but alot of things don't add up. The first being why all of a sudden does Sacha accept Saf's offer? Probably a backhander or a stake in one of his company's. Sorry for being so sceptical but there is no other information to think otherwise, is there any light at the end of this very dark, very long tunnel?
moley2
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26/08/2009 21:24:00

hi all, on holiday in Portugal at the moment so only just been able to log on and catch up. Whooo!, some movemnt at last and I for one am happy that it is the SAF who is taking over, a fresh start is what we need and i feel he can provide, not instantly, but gradually! anyway, in answer to moley 2's post 'why has it taken him til now to exchange contracts'.. i understand it is because they have been waiting for the Sky Sports money to be given (it was on the 25th), some of it paid of Sacha's remaining debt [leaving him debt free and able to sell] and the other went to the club. I do feel a bit of sympathy for PS but his era has gone on to long, out with the old, in with the new, fingers crossed it takes us in time to where want to be. PUP
bleeding blue
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26/08/2009 21:52:00

PS's Group could have taken our club to places we wouldn't have believed. One hand feeds us and the other takes away. Very sad.
stillthewhizz
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26/08/2009 21:55:00

http://podcast.tlrc.net/quay/wednesdayfootballhour.mp3 - link to The Quay's Wednesday Night Football Hour with Peter Storrie.
stillthewhizz
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26/08/2009 22:03:00

Not convinced about any of it...I suspect Alf is a dealer, who buys and sells. PS group has forced the issue and now Alf is in..but not for too long, me thinks...PS group will join him soon i suspect..Not sure alf has as much personal cash as alot of people think
plymouth graham
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26/08/2009 22:05:00

So much for Sacha having the clubs best interests at heart. Sorry Bleeding Blue but something doesn't add up with the whole situation. Why still no word from Saf? Also how can two men sit side by side during 3 matches and have no idea what each other is up to? I'm still not convinced Saf has any more money other than to secure debts, if he did he surely would have released some by now for player transfers?
moley2
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26/08/2009 22:08:00

moley, to be sure, i'm not 'convinced' SAF has the money everyone 'thinks' he has, but to tell the truth, does anyone know bar him or his acountants?! - no. only time will tell for us i suppose. for now, as it has always been, for me it about getting behing the team and cheering them on!! re: things not adding up/SAF and PS in directors box etc, i believe that Mr. SAF and PS had a falling out over PS trying to hide stuff in the DD process (one thing was that SG has debts not PFC related [cant confirm this is true]) This is why they didnt know what each others plans were, because they were each 'in their own corner of the ring'. I think that PS only tried to start a rival bid to try and get some dignety back, and now its backfired, he's acting like the hurt hero. Dont think that i am purly a PS hater, beause i'm not, i admire the work he has put into the club, just think that its time we moved on and had a change! am letting my mind wonder now, sorry ppl. PUP
bleeding blue
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26/08/2009 22:23:00

Reading this has not allayed my fears - http://www.guardian.co.uk/sport/blog/2008/oct/23/man-city-alfahim
stillthewhizz
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26/08/2009 22:26:00

If the sale agreement is signed by the legals; the deal is done normally upon receipt of the first down payment; it's unusual to sign without acknowledgement from your bank that this payment is being processed.
russellm
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26/08/2009 22:50:00

Moley2; al Farij has more dish than you and I
russellm
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26/08/2009 22:52:00

 

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