Posted by: Peter Symonds on: 21/10/2009
By David Adams
Portsmouth FC had another Middle Eastern investor take over the club on 6th October 2009. Ali Al- Faraj took a 90% stake in the south coast club with former owner, Sulaiman Al Fahim, keeping a 10% shareholding. A statement from the club said that this takeover will “ensure Portsmouth’s future is safe and will bring financial stability.”
But should we believe this? Al- Faraj likes to keep out of the media spotlight and nobody knows that much about him. Al Fahim, who was one of the architects of the Manchester City takeover, was meant to have the money available to finance the club, paying off its crippling debts which almost resulted in administration during.
However, this did not materialise and players were not paid. But after the club’s first win of the season, 1-0 away at Wolves, the new ownership allowed wages to be paid, while stability did not seem too far away. Avram Grant was reinstalled as director of football- this should give manager Paul Hart some much-needed experience in team affairs. Yet if Portsmouth do avoid relegation this season, will they turn into another Chelsea or Manchester City? Will players’ wages increase even more – many think that they are incredibly high at the moment – and will all this money make football a better game or an outrageous prospect?
The situation at Portsmouth F.C. definitely will become more interesting, that is for sure.
1 | Josh Ward
05/11/2009 at 14:28
Southampton till i die.