Takeover Deal Collapses?

Last updated : 09 August 2009 By Jim Bonner
There are strong rumours stating that Sulaiman Al-Fahim has pulled out of the deal to buy Portsmouth Football Club from Alexandre Gaydamak.

Reliable sources claim that the deal has collapsed and the story will be covered by the major newspapers tomorrow. However, apparently both Al-Fahim's spokesman Ivo Ilic Gabara and his close friend Anil Bhoyrul have rubbished these reports.

So there may not be any truth to these rumours, but once again Al-Fahim is going to have to reassure fans that he is buying the club because if he doesn't, Pompey will go into meltdown and all the positives to take from the Rangers game will have evaporated.

The Mirror is reporting today that Gaydamak has set Al-Fahim a 7 day deadline to buy the club from him. Sources state that Gaydamak would have walked away if he had an alternative buyer and is getting frustrated by Al-Fahim's empty promises of being able to stump up the cash.

Latest: Ivo Ilic Gabara has told Sky Sports today:

"In response to unsubstantiated media coverage, the chairman of the board of Portsmouth FC, Sulaiman Al-Fahim, and Mr Sacha Gaydamak, Member of the board of Portsmouth FC, would like to re-affirm that they are both commited to completing the agreed transaction intended to change the ownership of Portsmouth FC as soon as possible, as provided by the Terms Sheet signed in July."

"With regard to the timing on the transaction, Sulaiman Al-Fahim and Sacha Gaydamak stress that following the timely completion of the due diligence process, the approval issued by the Premier League under its "Fit and Proper Person" test and the signing of the terms sheet, the transaction is in its final stages and the final talks are proceeding on a cordial basis."

"All parties are involved with exercising every effort to complete the sale as soon as possible in the best interest of the club and its supporters who are showing an extraordinary level of loyalty to this great club."