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Saudi Prince 'in talks over buying Pompey'
A member of the Saudi Royal family is reported to be in preliminary talks over buying Pompey.
HRH Prince Mohammed bin Nawaf — the Saudi Arabia ambassador to the United Kingdom and Republic of Ireland — is said to be in discussions with Pompey and could become the club's fifth owner since August last year.
It comes after chief executive Peter Storrie revealed to The News on Saturday that the club were in talks with two potential new investors.
Storrie recently visited Ireland to talk to one of the investors.
It's hoped the Prince's huge wealth would help clear Pompey's debts overnight and save the club from going under.
The Prince is the nephew of King Abdullah, one of the richest families in the world.
Pompey face a winding-up petition at the High Court this Wednesday over an unpaid 7.5m tax bill.
If the judge grants the petition, it will spell the end of Pompey.
But Pompey are going to the High Court tomorrow in a bid to get the hearing postponed.
As reported, Hong Kong businessman Balram Chainrai took over the 90 per cent share of Pompey after former owner and Saudi businessman Ali Al-Faraj failed to meet repayment instalments on his 17m loan.
Chainrai has already expressed his desire to sell the club quickly. He said he only took over the shares to protect his investment and save the club from going under.
Colin Farmery, from the Pompey Supporters' Trust, said: 'There are two or three potential investors that are interested in buying the club.
'I'm not against any new owner, provided they can show that they have the desire to take the club forward and they have the funds.'
Pompey refused to comment on the reports.
Profile of the Prince
HRH Prince Mohammed bin Nawaf Al-Saud was born on May 22,1953 in Riyadh, Saudi Arabia and at present is the Ambassador of the Kingdom of Saudi Arabia to the United Kingdom and Ireland.
Prince Mohammed was educated at The Capital Institute High School in Riyadh. He is a graduate of The School of Foreign Service at Georgetown University, Washington DC and carried out postgraduate studies at the John F Kennedy School of Government, Harvard University. He is President of the Harvard Alumni Association of Saudi Arabia.
Prince Mohammed worked for the Royal Commission for Jubail and Yanbu for two years before transferring to the Ministry of Foreign Affairs where he first worked in the Minister's Cabinet before being promoted to Inspector General at the Ministry.
In 1995, Prince Mohammed was appointed as Ambassador to Italy and Malta. In 1998 he was elected as President of the Council of Administration for the Islamic Cultural Centre of Italy. He was Dean of the Arab Ambassadors' Corps.
In December 2005, Prince Mohammed was appointed as Ambassador of The Kingdom of Saudi Arabia to the United Kingdom and Ireland.
Prince Mohammed is married to HH Princess Fadwa bint Khaled bin Abdallah Al-Saud. They have five children POMPEY have denied reports that the electricity supply at the club's Wellington training ground in Eastleigh will be cut off.
Pompey spokesman Gary Double said: 'It's not being cut off. There's confidential payment issues which are being dealt with.'
Reports also suggested that Southampon helped out Pompey by not asking them to pay up front for tickets for next Saturday's FA Cup clash for free.
But Mr Double said the club is entitled to 45 per cent of the profits from the game anyway, which would cover the cost of the tickets.See The News tomorrow for more pictures and reports.
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Weather for Portsmouth
Sunday 12 February 2012
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