Prince in talks to become fifth Pompey owner of the season
Published 23:00 06/02/10 By Paul Smith Exclusive
Portsmouth could come under ownership from a third Middle Eastern investor.
HRH Prince Mohammed bin Nawaf — the Saudi Arabia ambassador to the United Kingdom and Republic of Ireland — has opened preliminary talks about buying the struggling Premier League side.
He would be Pompey’s fifth owner in five months.
Although he is facing competition from an Irish/American consortium to gain control, it’s understood the Saudi Prince is in a position of real strength in light of his immense material wealth which would clear Pompey’s debts overnight.
Fans will be sceptical given their club did find two Middle Eastern investors who turned out to be virtually penniless and plunged the club into an even deeper financial crisis.
Hong Kong-based Balram Chainrai exercised his right to take control of the club on Thursday. Ali Al Faraj was forced to hand over his 90 per cent interest for failing to meet repayments on a £17m loan from Chanrai.
