Re-financing complete, according to SAF...
According to SAF and Arabianbusiness.com Pompey have 'completed a re-financing of the club through international institutions, which will bring it much needed stability'...
Portsmouth FC secures new finance from bankers - here.
So, it is 'said' that SAF and 'representatives' of Ali Al Faraj have met this weekend to 'finalise the new arrangements, which will see the club clear its debts' and this will mean that our transfer embargo is 'lifted' and funds will now be made available for 'the acquisition of new players' in January...
SAF is quoted as saying that this money has been 'secured against future television income.'
I am not so sure that this is actually a good thing, if it is true - of course 're-financing' I guess is, but doing it the right way more so. Is this a 'calculated risk' that could cause more trouble though? I guess time will tell.
Is this the 'loan' that was mentioned back along?
He is also being quoted as 'claiming' Al Faraj now wants him to increase his 10% stake in the club: 'they want me to play a wider role in developing the club, so it is something I am considering. I have always said I will be interested in increasing my shareholding because I believe in the future of the club, so will see.
'But that is secondary. What is important is we now have the financial stability needed to move forward.'
Financial stability of the club is important without a doubt, what I would say is more important is for the club to give us some news officially!
WHY is this kind of news, assuming it is even true, not being told to us through official channels?
PLAY UP POMPEY!
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