Portsmouth Football Club have confirmed they have accepted an offer from UAE billionaire Sulaiman Al-Fahim to take over the club.
Executive chairman Peter Storrie held talks with the new owners on behalf of club owner Alexandre Gaydamak.
No figure has been disclosed but the deal is thought to be in the region of 60million.
Peter Storrie concluded the deal with Dr Sulaiman Al-Fahim in Rome on Tuesday night.
In a statement Pompey said: 'A period of formal legal and financial due diligence will commence next week so that the transaction can be completed as soon as possible.
'The club cannot make any further comment on the future structure of the club until this period has been completed.'
Also see: Portsmouth FC confirm takeover by Sulaiman Al-Fahim
UAE billionaire 'in talks to take over Pompey'
Pompey takeover: 'is a done deal'
Pompey fans welcome Sulaiman Al Fahim takeover bid
Sulaiman Al Fahim: A fan of Diego Maradona
Profile of Portsmouth FC new owner
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