Sulaiman Al Fahim has been named new chairman of
Portsmouth.
The UAE-based businessman became the first prospective new club
owner to pass the Premier
League's fit and proper person test.
Portsmouth confirmed that
current owner Alexander Gaydamak had reached an agreement "in
principle" to sell the club to Al Fahim Asia Associates.
Al Fahim, the sole owner and chairman of the company, said: "I
very much look forward to working closely with the club's
management and supporters to develop Portsmouth Football Club and deliver future
success. The club has a long and fine history of achievement that I
intend to build on."
Peter Storrie, who has agreed to continue as Portsmouth's chief executive, added: "This
appointment brings stability to the club and is excellent news for
Pompey supporters.
"I have every reason to believe that together with the new
chairman we will be able to take the club forward to further
achievements, building on the successes of the past three
years."