NEW ERA: UAE tycoon Sulaiman Al Fahim has signed a deal to take over Portsmouth FC. (Getty Images)

Property tycoon and UN Goodwill Ambassador Sulaiman Al Fahim has signed a deal to take over the English Premier League club Portsmouth FC, Arabian Business can exclusively reveal.

The UAE businessman is this week in Rome attending the Champions League Final as a guest of the current Portsmouth FC owner Alexandre Gaydamak, where the two men have been putting the final touches to the takeover.

The deal is being done through Al Fahim’s new investment vehicle Al Fahim Asia Associates (AAA). It has been structured by specialist international private equity and asset management firm Falcon Group.

Al Fahim was the architect of last September’s takeover of Manchester City Football Club by Abu Dhabi United Group, a deal also negotiated and advised on by Falcon.

A source close to Ambassador Al Fahim said: “He did the Man City deal and got the taste for football. He has followed the Premier League very closely since then, and has been looking for a club to get involved in.

"Portsmouth is a great club, with great history and great potential. It’s something he is very excited about, and I am sure all the Portsmouth fans will be equally excited.”

It is expected that Ambassador Al Fahim will take over as chairman of the club shortly after the completion of the deal.

Although the amount to be paid for the takeover is not known, sources suggest that the new owner’s first priority will be stabilising the club’s current squad, with many players out of contract at the end of this season.

“There will also be a lot of emphasis on developing the academy and training facilities. The club has had many great players over the years. The objective is to keep them,” added the source.

Portsmouth FC are the current FA Cup holders having won the trophy last May, and have been in the Premier League since 2004.

Ambassador Al Fahim is the star of his own reality television show The Hydra Executives, and author of the best-selling book Brand Builder.

He won the International Achievement award at last year's CEO Middle East Awards in Dubai last year and is the current president of the Arab Union for Real Estate Development, part of the Arab League.

In recent months, Ambassador Al Fahim has been working closely with IIMSAM Director General Remigio Maradona – cousin of soccer legend Diego Maradona – in the battle against malnutrition.

Both men are Ambassadors of the Intergovernmental Institution for the use of Micro-algae Spirulina Against Malnutrition, IIMSAM.

Sources suggest that Ambassador Al Fahim will also use the club’s shirts to promote his anti-malnutrition campaign.

An official announcement on the takeover is expected by the club within the next few hours.