Pompey buy-out confirmed, Hart to stay on
Pompey under new management
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Tuesday, 21, Jul 2009 05:34
Portsmouth have announced that an agreement has been reached for United Arab Emirates businessman Sulaiman Al Fahim to buy the club, with Paul Hart signing a new two-year contract to remain as the club's manager.
Al Fahim, the sole owner and chairman of Al Fahim Asia Associates, will become the new Pompey chairman with immediate effect after passing the Premier League's new fit and proper person test.
The 32-year-old, who helped broker a deal with Manchester City last year, spoke of his intention to bring success to Fratton Park.
"I very much look forward to working closely with the club's management and supporters to develop Portsmouth Football Club and deliver future success," said Al Fahim.
"The club has a long and fine history of achievement that I intend to build on."
Peter Storrie, who has agreed to continue as chief executive officer of Portsmouth, hailed the takeover and feels that the club can now move on to bigger and better things.
He said: "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."
Meanwhile, Hart will continue as Portsmouth manager under the ownership of Al Fahim.
The 56-year-old has signed a new two-year deal with the club after maintaining their top-flight status with two games to spare last season.
Al Fahim said: "Paul did a great job keeping the team in the Premier League last season and having previously worked as director of youth operations he knows the club inside out.
"He has immense experience and a great knowledge of the game and commands the respect of the players. I'm looking forward to working with him."
Hart, who joined Pompey in 2007, said: "Portsmouth are a fantastic club and it's a great honour for me to be manager.
"The players responded brilliantly to the challenge when I was handed the role last season and I'm looking forward to continuing that relationship as we prepare for our seventh straight season in the Premier League."
Rob Swan