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Ali Al Faraj completes buyout of Portsmouth

Ali Al Faraj has completed his buyout of Portsmouth.

Sulaiman Al Fahim retains a 10% share, just six weeks after completing his own buy-out of the Premier League outfit, with Al Faraj holding the remaining 90 per cent.

"The takeover will ensure Portsmouth's future is safe and will bring financial stability," read a club statement.

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

Al Fahim's decision to sell the bulk of his shares to Falcondrone Limited, a company owned by Al Faraj, was announced late on Monday night.

The club statement continued: "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."



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