Sulaiman Al-Fahim, the prime mover behind the Man City takeover now owns his own Premiership club. He is purchasing Portsmouth for a reported figure of £80m, through the investment arm of his company, Al Fahim Asia Associates. Portsmouth has flirted with relegation all season long and its transfers have not panned out. The club was £65m in debt, of which £25m was owed to the present owner Alexandre Gaydamak.
He also owns a Versace Lamborghini Murcielagos, one of only three in the world and is the host of the reality show, Hydra Executives which pits eight Americans against eight Britons for a chance to work in his company, Hydra Properties, and win $1million for a business venture.
Falcon Equity, the private equity and asset management company which structured and negotiated the Man City deal was behind the Portsmouth takeover. It reportedly raised the funds from Asian and Middle Eastern investors through its network of offices. Al-Fahim in an interview denied any further involvement with Man City after September 2008, and said that his role in Portsmouth is yet to be defined.
He also denied rumours that Hydra Properties was in financial trouble and dismissed them as 'badmouthing" his company. He was at pains to separate out his company, Hydra Properties and the investors who had been tapped by Falcon Equity to put money into Portsmouth FC. In a customary disclaimer, he said that none of the investors were from the real estate sector or were part of the royal family.
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