Vital Football

Ali Al-Faraj completes his 90% takeover

Ali Al-Faraj completes his 90% takeover

It is done, and was done last night as had been 'reported' by sky sports news, Ali Al-Faraj has completed his 90% purchase of Pompey through Falcondrone Limited - a company he owns - from SAF.

Finally lets just hope that this now brings us the opportunity for that stability we already thought we would have and can also enable us to develop the areas we have so been hoping we could for so long!

A statement was released on The Pompey Site late last night which, reads as follows...

PORTSMOUTH FOOTBALL CLUB STATEMENT

Sulaiman Al Fahim, the owner of Portsmouth Football Club, has sold the majority - 90 per cent - of the club to Falcondrone Limited, a company owned by Saudi Arabian businessman Mr Ali Al Faraj.

Contracts have been signed between the parties today to enable funds to be released to pay the players and executive board on Tuesday.

Al Fahim Asia Associates, owned by Sulaiman Al Fahim, will retain 10 per cent of the club and he remains as non-executive chairman until at least the end of the 2010/11 season.
Ali Al Faraj will join the club's board of directors along with his associate, Mark Jacob.

Peter Storrie will remain chief executive officer.

Mr Al Faraj, 40, from Riyadh, Saudi Arabia, is a respected property investor in the Middle East and has already passed the Premier League's fit and proper persons test.

A Pompey spokesman said: "The takeover will ensure Portsmouth Football Club's future is safe and will bring financial stability.

"The club will undergo refinancing in order to grow and develop every part of the business.

"Mr Al Faraj is very supportive of the club's plans for a new training ground and the development of Fratton Park."

PLAY UP POMPEY!


Bookmark and Share


Join the Vital Pompey Debate



*Try Vital Mobile FOR FREE for the latest news, scores, fixtures and so much more*

Click here to join in the debate on the club forum.

Writer:pompeyrug
Date:Tuesday October 6 2009
Time: 7:39AM

Comments

0
Can we move on now?
paultsmouth
06/10/2009 07:42:00
0
Oh Happy Day! Our club is saved - and now we can get on with saving our season. Thank you Mr Storrie!
tracyc
06/10/2009 07:42:00
0
finally we have the stability we wanted - i hope!

lets now 100%, no two ways about it focus purely on the football and drag ourselves out on this mess without having to worry about others things - january will take care of itself but lets not get too carried away. between now and then seeing some work start on the training ground and redevelopment of fratton would do me fine...
pompeyrug
06/10/2009 07:50:00
0
PL security, clearing the debt and training ground must be the first priorities. To early to pass judgement on Hart; 1 win doesn't mean he's great and as he managed a 4,4 2 formation so he gets another two games from me. Then the short term soloution of redeveloping FP would be good.
russellm
06/10/2009 08:28:00
0
Let the good tmes roll! At last we can hopefully stop the soap opera that our club has become. And maybe, just maybe, we can stop talking about new training grounds and stadiums and actually build them. Stability please!
putneypfc
06/10/2009 08:35:00
0
And pay the wages of the remaining players and staff that have not yet been paid. It is a fact that most have been paid but presumably not the high earners.

Better sort out the taxman too.
eastneydave
06/10/2009 09:29:00
0
As, like Al Fahim, Al Faraj is a property developer I hope that his no.1 priority is the football club and team. I hope it's not a case of an eye on the potential for future profits from the development of FP and it's environs. What does AF2 know about Pompey? If he was that keen on us why didn't he make an approach when Gay first put us up for sale? No doubt we'll hear all the right platitudes but the January window will be his first test - will he invest in the team as well as the property?
PFCblue
06/10/2009 09:31:00
0
At long last! Hopefully now we can put these dark few months behind us and start building for a brighter future on and off the field! I dont want to become a Man City just security and Prem stability would do me. Happy days I hope but being a Pompey fan I am ever the sceptic!
pompeymac
06/10/2009 09:55:00
0
Of course we're all skeptical after what we've been through the last few months, I really hope this is the start of a new era when things get done instead of being talked about. Don't know how much money there will be, but I'm believing that at the very least the club is solvent now. And I'm hoping that the nightmare will be over.
tracyc
06/10/2009 10:00:00
0
Take a bow Peter Storrie
Pompeyscum
06/10/2009 10:25:00
Page 1/3
  1. 1
  2. 2
  3. 3

Login to post a comment

Recent Portsmouth Articles

Football League - Fixture Day & 2017/18 Key Dates

The Football League have released the key dates for the coming 2017/18 season, and the all important fixtures will be released on Wednesday June 21 at 9am.

On this day in history...21st February

A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 21st February.

Vital View - League 2, 18th February 2017

Doncaster's winless run went on but they remain three points ahead of Plymouth. Carlisle are a further two points back. Leyton Orient and Newport hold the unwanted relegation places.

Video - Barnet 1-1 Pompey

A late Barnet goal looked as though it would end Pompey's unbeaten run but Conor Chaplin proved the saviour when he scored a last minute equaliser to earn a point in a 1-1 draw.

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

pompeyrug
Editor email
Profile
eastneydave
Editor email
Profile
paultsmouth
no email
Profile

Current Poll (see more polls)

Barnet MotM
Suggested By: Site Staff
Forde15%
Evans0%
Clarke6%
Burgess53%
Stevens0%
Linganzi0%
Doyle0%
Lowe0%
Roberts0%
Bennett0%
Doyle0%
Sub - Rose0%
Sub - Chaplin26%
Sub - Baker0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Doncaster 32 19 7 6 64 23
2 Plymouth 31 19 4 8 61 17
3 Carlisle 32 15 13 4 58 11
4 Luton 32 14 11 7 53 18
5 Portsmouth 31 15 7 9 52 16
6 Exeter 32 15 5 12 50 16
7 Colchester 32 13 8 11 47 7
8 Mansfield 32 12 11 9 47 4
9 Stevenage 32 14 4 14 46 1
10 Wycombe 32 13 7 12 46 -1
11 Barnet 32 11 12 9 45 -2
12 Grimsby 32 12 8 12 44 0
13 Cambridge 31 12 7 12 43 3
14 Blackpool 31 10 12 9 42 12
15 Morecambe 31 12 6 13 42 -7
16 Crawley 31 11 6 14 39 -11
17 Yeovil 32 9 11 12 38 -7
18 Crewe 32 8 12 12 36 -11
19 Accrington 30 8 9 13 33 -10
20 Notts County 32 9 6 17 33 -21
21 Cheltenham 32 7 11 14 32 -10
22 Hartlepool 32 7 11 14 32 -18
23 Leyton Orient 32 8 5 19 29 -15
24 Newport 32 5 11 16 26 -15
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

Feb 25 2017 3:00PM : Carlisle United (a)
Sky Bet League Two
Feb 28 2017 7:45PM : Morecambe (H)
Sky Bet League Two
Mar 4 2017 3:00PM : Crewe Alexandra (H)
Sky Bet League Two
Mar 7 2017 7:45PM : Crawley Town (a)
Sky Bet League Two
Mar 11 2017 3:00PM : Colchester United (a)
Sky Bet League Two
Mar 14 2017 7:45PM : Grimsby Town (H)
Sky Bet League Two

Vital Members League Table

RankNamePoints
1.pompeyrug53
2.PompeyFrippy27
3.Copnor4320
4.storagematt17
5.FrattonBlue15
6.stubbsy00715
7.eastneydave10
8.uspompeyfan9
9.pompeyweller7
10.steaming7
The Vital Football Members League