Due Diligence Complete

Last updated : 14 July 2009 By Jim Bonner
Portsmouth FC has announced that the due diligence process has finished and Sulaiman Al-Fahim will now be submitted to the Premier League's "fit and proper persons" test.

It's good to hear some positive news regarding the takeover as more and more Pompey fans are becoming increasingly worried about the situation as pre-season drags on with numbers dwindling from a team that still doesn't have a permanent manager.

The latest on the takeover is that Sacha Gaydamak and Sulaiman Al-Fahim are negotiating a final price for Portsmouth and once a fee has been agreed and the fit and proper persons test has been passed, Pompey will finally have a new owner.

The first question that most Pompey fans will be asking when (or if) the takeover goes through is how much money does Al-Fahim and his backers have?

Reports of Peter Crouch being sold to "balance the books" and the apparent appointment of Paul Hart edging closer has raised serious questions about what sort of spending power the new owner will have.

If Al-Fahim was as ambitious as he claims to be then both of the above stories would prove false and Pompey should have a big name player and should be able to keep hold of arguably their only star asset left at the club (along with Niko Kranjcar).

It has been suggested that the Doctor isn't as loaded as once thought and that some of his backers have had to pull out of the deal because they would fail the fit and proper persons test.

That sounds like a credible story to me but the bottom line is that nobody, regardless of how good their "sources" are, really knows the truth and nothing concrete will be revealed until the deal is complete.

Pompey fans may be complaining about this summer of speculation but I'd rather have this summer of uncertainty with the possibility of a bright future instead than a summer of "certainty" where the only sure things would be a fire-sale of our best players and subsequent relegation to the Championship.

The only facts we have is that due diligence has finally be completed and we will still have to wait a fair bit of time before the takeover is sealed and the Pompey fans can look forward to the season.

Until then, expect plenty more reports about players leaving and other twists and turns in this tiring takeover saga.