Pompey accept Al Fahim’s resignation

(GSM) – Portsmouth have confirmed they have accepted UAE businessman Sulaiman Al Fahim’s resignation as non-executive chairman.

Al Fahim announced earlier in the day that he was to stand down from the board and give his 10 per cent shareholding to the Portsmouth’s Supporters’ Trust.

Pompey director of communications Gary Double confirmed: “We have received his resignation, which has been accepted by the board.”

However the club are mystified as to why Al Fahim posted his ‘private and confidential’ resignation letter on a public website before informing the club of his intentions.

Al Fahim claimed he had not been made aware of the club’s financial situation despite repeated requests.

In October, Fahim sold 90 per cent of the club’s shares to Saudi businessman Ali al Faraj. Chainrai has since become the club’s fourth owner in less than a year

Despite relinquishing ownership to Al Faraj, he retained a 10 per cent stake in the club and was also given the position of non-executive chairman at Fratton Park.

Portsmouth face a winding-up petition from Britain’s Revenue and Customs office in the High Court on March 1, for unpaid taxes. They club had appealed for permission to sell players in a bid to raise urgent funds but the Premier League declined their request.

British media have reported that the club have debts of more than £70 million.

There is no guarantee that the club, English champions in 1949 and 1950 and FA Cup winners twice, will still be in existence to play their next scheduled home match against Birmingham City in the FA Cup sixth round on March 6.

His intention to step down initially came as a surprise to the south coast club.