Published Date:
06 July 2009

By Neil Allen

But Pompey still face a wait before the Premier League can rubber-stamp the prospective deal.

The News understands the due diligence process, which has taken place before Al Fahim can proceed with his buy-out, is almost at an end.

It could happen as soon as Wednesday, although that may be a touch on the optimistic side.

Regardless, the wait looks set to be over following five weeks of the Arab property tycoon's lawyers and accountants pouring over the Blues' books.

Al Fahim himself was quoted in the Gulf News at the weekend that the process could be completed 'a few days from now'.

This appears to be a genuine belief.

Meanwhile, there is growing confidence behind the scenes at the club that matters can be finalised before the week is out, coupled with the timely return of Peter Storrie yesterday from holiday.

Al Fahim's spokesman, Ivo Ilic Gabara, did not rule out such a time frame when the question was put to him.

And, speaking to The News, he again reiterated the process was moving along smoothly.

He said: 'Due diligence is continuing and as far as we are concerned we are still on track.

'We have always said it would be completed in the course of July. That could be tomorrow or the end of the month.

'Everything is going as expected and hopefully something can be announced soon.'

Once due diligence is completed, the Premier League will put into motion their fit-and-proper persons procedure.

Lawyers acting for Al Fahim have already contacted the league for advice on the criteria the billionaire needs to meet to pass such a test.

Among the requirements is the need to declare any person who will hold 10 per cent – or have material interest – in the club.

By going into the next stage pre-armed, Al Fahim has every chance of breezing through the process.

However, that could still take as long as a minimum of a week as the Premier League make an example of the Arab having been stung by the Thaksin Shinawatra saga at Manchester City.

In the meantime, Storrie has insisted he is also pleased with the progress of due diligence.

Pompey's executive chairman said: 'We are still going through due diligence and everything is on course.

'It's all going very well at the moment.'

Published Date:
09 July 2009

By Jordan Cross

The News can reveal the investigation into the Blues' finances are now at a close as the Arab property tycoon inches nearer to becoming the club's new owner.

Al Fahim met with Peter Storrie in Paris earlier this week where a purchase agreement was signed by the 32-year-old.

That means his move to succeed Sacha Gaydamak now moves into the hands of the Premier League.

They can now begin their fit and proper person's test. Once that has been completed the move can then be finalised and Al Fahim unveiled.