Sacha Gaydamak wanted Sven to take charge of Pompey when Tony Adams was sacked in February but at the time the former England and Man City boss was in charge of Mexico at the time.
Eriksson has since been sacked and with Al Fahim intending to turn Pompey into a force it is suggested that he wants a big name to take Paul Hart's place as manager with the current caretaker boss returning back to the youth academy to continue the excellent job he was doing there.
The bookies are also making Sven the favourite with Croatia manager Slaven Bilic and Avram Grant also in the running. If you fancy Harry Redknapp to doublecross Spurs and return to his "spiritual home" then I've seen odds of 20/1 for that.
Al Fahim has stated that once the deal is complete he will transform Portsmouth into a "great club" and appointing a proven class manager in Eriksson would be the first step.
No doubt this will be the first of many, many rumours in the mill as Pompey will be carrying new financial clout in the near future. But I look forward to it!