Dubai-based businessman Sulaiman Al Fahim has been given the green light to complete his takeover of Portsmouth after passing the Premier League's stringent fit and proper persons test.
Al Fahim (pictured) struck a deal to buy the Fratton Park club from current owner Alexandre Gaydamak in late May before entering a period of legal and financial due diligence.
The Premier League confirmed today that Al Fahim had been cleared to complete his purchase of the club.
A statement said: "The Premier League can confirm that Mr Al Fahim has submitted all the documentation required to satisfy our fit and proper persons test.
"Based on the information provided the League has found no reason why Mr Al Fahim would be liable to be disqualified as a Director of a Premier League club.
"Accordingly we have advised Portsmouth FC that his appointment may proceed.
"As with all changes in club ownership the Premier League will continue to monitor any material changes in circumstance."
Al Fahim, the sole owner and chairman of the company, said: "I very much look forward to working closely with the club's management and supporters to develop Portsmouth Football Club and deliver future success. The club has a long and fine history of achievement that I intend to build on."
Peter Storrie, who has agreed to continue as Portsmouth's chief executive, added: "This appointment brings stability to the club and is excellent news for Pompey supporters.
"I have every reason to believe that together with the new chairman we will be able to take the club forward to further achievements, building on the successes of the past three years."
Via: Yahoo! Sport
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