London, July 21 (DPA) Portsmouth said Tuesday that they have agreed to a deal “in principle” for the sale of the club to United Arab Emirates businessman Sulaiman Al Fahim.
Ownership of the club will switch from Alexandre Gaydamak, who had announced in May that he was unable to devote sufficient time to the club.
The 32-year-old Al Fahim has also been appointed chairman of the club after he completed a period of financial due diligence last week.
“The Premier League found no reason why Mr Al Fahim would be liable to be disqualified as a director of a Premier League club,” it said in a statement.
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