As featured on NewsNow: Football news

Portsmouth facing yet another sale

New Portsmouth owner Ali Al Faraj has admitted that he is in fact not a billionaire, knows nothing about football and plans to sell the club within six months.

Following the takeover from Sulaiman Al Fahim earlier this month, Al Faraj had been touted as the saviour for the south coast club but it has come to the surface that he is not as wealthy as was first thought and actually had to borrow £5million to pay players wages for last month.

Al Faraj says the plan is to get Portsmouth back on track before selling, to benefit both he and the club.

"We are going to purchase the remaining shares in the club by entry of additional partners, whether they are from the Gulf or Europe," the Saudi Arabian property tycoon said.

"Our plan is to stay at the club for a period of not less than six months, until the club stands again, benefiting the club as well as us.

"This is based on the fact that purchasing the club was purely investment and in the future we may sell it if we get additional gains.

"It's not a secret to hide, we are investors and we have no relationship to sports, but at the same time we have an integrated team of legal and technical advisors.

"All are working at the club as executives and planners for more than five years and they know all the details and reasoning. This is natural in the business world."



Support Tribal Football with this great deal from our partners ExpressVPN. You get an extra three months free with the 12-month plan (a saving of 49%!). All plans come with a 30-day money-back guarantee if you change your mind. Click here to try now, risk-free for 30 days - and support Tribal Football in the process.

Video of the day:

Andrew Slevison
About the author

Andrew Slevison

Have your say
×

Subscribe and go ad-free

For only $10 a year

  1. Go Ad-Free
  2. Faster site experience
  3. Support great writing
  4. Subscribe now
Launch Offer: 2 months free
×

Subscribe and go ad-free

For only $10 a year

Subscribe now
Launch Offer: 2 months free