Pompey refinancing on track despite Al Fahim op

Last Updated: Saturday, October 3, 2009 - 10:23

Portsmouth: Portsmouth owner Sulaiman Al Fahim`s attempt to revive the financially stricken Premier League club remains on course despite the Arab tycoon needing an operation to remove kidney stones.

Al Fahim`s spokesman Ivo Gabara confirmed on Friday that the Portsmouth owner is suffering from a kidney infection and was rushed to hospital in Dubai on Thursday.

Portsmouth were forced to reveal on Thursday that the club`s players had not been paid on time this month because of "a delay in the transfer of funds" after banks demanded TV receipts and profits from the last transfer window, meaning Al Fahim needed to refinance the club.

However, the club`s board, comprising Peter Storrie, Tanya Robins and Roberto Avondo, claimed to be in the final stages of securing funding to pay the players` wages this week.
And Gabara claimed Al Fahim`s advisers were working closely with chief finance officer Robins to ensure that a loan of 50 million pounds (54 million euros) was "disbursed on schedule over the next three to four weeks".

"This will not have any impact on the refinancing or management of Portsmouth," Gabara said.

Portsmouth are bottom of the Premier League after losing their opening seven matches - the worst start by an English top-flight team for 79 years.

Bureau Report



First Published: Saturday, October 3, 2009 - 10:23

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