Dr Sulaiman Al Fahim is excited about taking control of Portsmouth.
Speaking from Rome last night, where he was attending the Champions League final between Manchester United and Barcelona, Dr Al Fahim, who heads a property company, revealed he was "excited" by the multi-million pound purchase - thought to be in the region of £60 million - but would not reveal how much he was paying for the club.
"I'm excited about the club and I've signed the memorandum," he said. "I was involved in the Manchester City purchase but this one is now mine."
Pompey fans have enthusiastically welcomed the takeover, but warned Dr Al Fahim would need to invest "hundreds of millions of pounds" on a new stadium and players to keep the club in the lucrative Premier League and challenge for a high league finish.
"It's fantastic news," said Nigel Tressider, chairman of the official Portsmouth FC supporters club.
"He will be welcomed with open arms by the terrific Portsmouth fans. I don't think he would have bought the club unless he has enough money to put it on the right track and that is going to take a lot of money, hundreds of millions of pounds."
