Abu Dhabi billionaire Sulaiman al-Fahim has had an offer to buy English Premier League football club Portsmouth accepted.
Reuters reports that the deal was concluded by Fahim and Portsmouth executive chairman Peter Storrie in Rome on Tuesday night. Storrie was negotiating on behalf of Portsmouth club owner Alexandre Gaydamak.
Reuters reports Portsmouth said, “A period of formal legal and financial due diligence will commence next week so that the transaction can be completed as soon as possible.”
The Arabian Business magazine reported Fahim said the deal was being done through Fahim's new investment vehicle Al Fahim Asia Associates (AAA).
