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Pompey hopeful ban will be lifted

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Pompey hopeful ban will be lifted

Post by Fabregas04 on Mon Nov 16, 2009 2:51 pm

Portsmouth's minority owner Suleiman al-Fahim believes the transfer ban imposed on the Premier League club will be lifted early this week.

Al Fahim, who sold 90% of the club last month, is also confident Pompey will secure financing to ensure its future.

"The club has made the revenue payments and the embargo will be cleared by Tuesday or Wednesday," said Al Fahim.

"The club will start to become stable by the end of this week. The threat of petition is no longer there."

Al Fahim added that the new board would have their first meeting on 1 December and said he would return property rights to the club so that they could "upgrade the current stadium".

Portsmouth, currently bottom of the league after a turbulent start to the season, were banned from making new signings until they settled transfer debts owed to other English clubs.

The ban related to outstanding debts that Pompey owed to Arsenal and Chelsea for the signings of Lassana Diarra and Glen Johnson respectively.

Diarra, 24, joined Pompey from Arsenal for an undisclosed fee of around £5m in January 2008 and moved on to Real Madrid for £20m 12 months later.

Pompey signed Johnson, 25, from Chelsea for £4m in August 2007 and sold him to Liverpool last summer for a fee reported to be £17.5m.

The club was sold to Saudi businessman Ali Al Faraj last month after Al Fahim had struggled to refinance the club's debt.

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