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Portsmouth no nearer knowing identity of new owner

Dr Sulaiman Al Fahim, Portsmouth's prospective new owner, has admitted that the deal may yet fall through should issues arise from the ongoing process of due diligence, claims The Guardian. "What I can tell you is that from the beginning the timescale hoped to complete due diligence (will be) in the course of July," said Ivo Ilic Gabara, a spokesman for Al Fahim. "Any due diligence process is open to any outcome. The due diligence process is a very serious process after which the two parties decide whether to complete the understanding that was reached (under) the memorandum of understanding.

"But then you have accountants, lawyers, the other party - how can you control whether the other party (the current owner, Alexandre Gaydamak) at the end of due diligence is still going to be interested in selling? What I can say is that Al Fahim very much wants to complete the process and the acquisition and sees a great future for the club."

Al Fahim is brushing aside concerns that the whole episode is a publicity stunt.

However, Al Fahim has accepted that he may have to reveal who the backers of his investment vehicle are, a condition that may threaten the deal as he has previously stated they were involved on condition of anonymity.

"We'll meet the full requirements of the Premier League," said Gabara. "If there are investors that fall within the criteria for disclosure under league rules we'll disclose them."

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