Saudi tycoons to invest in English football

investors from Saudi Arabia next week, could put forward a proposal to purchase English football club Portsmouth, included in the Premier League, writes The Wall Street Journal.

I must see the proposals, - said the current owner of the club Sulaiman Al-Fahim in response to a question about whether he plans to sell the club, bought earlier this year. Al-Fahim, who is in the process of rehabilitation after surgery in the hospital Dubai, said that negotiations on the sale started before I bought the club.

Arabic millionaire previously purchased a football club from billionaire Alexander Gaydamak for 80 million pounds sterling (approximately $ 125 million).

Middle Eastern investors, who gained wealth in the trading of raw materials, have been buying up team in the English league, as the most profitable in Europe, at a time when most club owners are in search of new sources of funding.

Last week, Saudi Prince Faisal bin Fahd bin Abdullah Al Saud, told local newspapers that Saudi investors are eyeing to buy a 50 per cent stake in Liverpool FC.

Saudi Sheikh Mansour Bin Zayed Al Nahyan recently bought a 10 per cent stake in Manchester City FC after the acquisition of 90% of the club by former Thai Prime Minister Thaksin Shinawatra for 210 million pounds in September 2008. After such investment club not only to improve their material well-being, but also held one of its most successful seasons.

At the moment, Portsmouth is in the last 20-th place in the table, having won this season, only one contest. On Thursday, the press was the statement that the executive body of the club did not pay.

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