Published Date:
28 May 2009
Sulaiman Al Fahim has spoken for the first time about his reasons for taking over Pompey since the deal to buy taking the club from Sacha Gaydamak was announced.
Here is an interview given to Anil Bhoyrul of arabianbusiness.com
1. Why did you want to get involved with a second club besides Man City?
I was the architect of the Manchester City FC acquisition by Abu Dhabi United Group, and negotiated and structured this together with Falcon Equity, a leading private equity and asset management firm. But since immediately after the deal in September 2008 I have no longer been involved with ManCity, even though I admire the club and the team. After Man City I was looking for another attractive club in the Premiere League… which we found in Portsmouth.
2. What is your role in Man City now and what will you do at Portsmouth FC?
Details about my potential role in Portsmouth will be defined over the next weeks. Keep in mind: My main focus is my job as CEO of Hydra Properties. With the group of investors that is backing the acquisition we seek to further develop the Portsmouth FC brand and lead the club to new strengths. In addition we will strengthen the football academy and activities for young people.
3. How much money will you pay for Portsmouth FC?We have mandated Falcon to negotiate on our behalf and initiate the due diligence process For the time being all details are and shall remain confidential. The investor group bundled in "Al Fahim Asia Associates" which I lead and represent has the necessary funds to support and build a strong Portsmouth FC.
4. How can you afford to buy a football club in these difficult economic times?
Falcon, with offices and teams in Dubai, Zurich and Buenos Aires have raised this money for Al Fahim Asia Associates. With an incredible experience in managing transactions and investments, Falcon is an independent investment and asset management firm, advising private and institutional investors on investments worldwide, and have successfully completed various transactions for me in the past. Falcon has the capacity to access large pool of capital to support such deals.
5. Given your role as CEO of Hydra how can you find time for your interest in football?Everyone has hobbies, no matter how little your time. I derive strength from the team that I have at work and find time because I have a team. Among my hobbies are chess, football and selected charity work for children and against global malnutrition, hence my support for the "Camp Maradona" children football camps and IIMSAM. This keeps me going. I take all of these activities seriously, so I am obviously not doing this alone, but jointly with different groups of people and teams that are professional and dedicated to the cause.
6. There have been rumours some time ago that Hydra is in financial difficulties. Are you using any of Hydra´s monies for the football deal?
The world is in difficult economic times, and some people apparently resort to all sorts of badmouthing. Hydra is a resilient and solid company. And even though we – like the other companies in the UAE and around the world- are facing challenging times due to the real estate recession, I have a strong team assisting me as the CEO of the company. However, let me be very clear in saying that my involvement in Portsmouth has nothing to do with Hydra. The money for the Portsmouth FC acquisition and the needed future investment has been raised through the network of Falcon Equity from Asian and Middle Eastern investors. None of these investors are from the real estate sector or part of a royal family.
7. What is your strategy for the future of Portsmouth?
We have a clear plan to strengthen the brand of Portsmouth FC. My investors in Al Fahim Asia Associates extend the branding network far into Asia, which we want to use.
8. How does your business background and education come into play here and what about the talk about "Arabs buying the Premier League" ?
There was a lot of talk already after the ManCity deal about Arabs buying the Premiere League. Like many of my Arab business colleagues, I spent many years in the West and still do so through my business. I understand and respect the different cultures and nationalities. Through my education at the Kogod School of Business at the American University in Washington, DC (from where I have a dual MBA on finance and real estate) I met people from around the globe, all races and religions, who became my friends. Back during that time I met my partners in Falcon, and we later started what has become today an international asset management, wealth management, and private equity firm. I am currently the non-executive Chairman of Falcon.
9. What is Al Fahim Asia Associates Ltd.?Al Fahim Asia Associates is structured like a closed-end private equity fund. Under my leadership we will invest into different sectors that we have identified as attractive, and have mandated Falcon as our advisor for such investments.
10. When will the Portsmouth FC deal close?
There will now first be a period of more detailed due diligence. In parallel the legal papers are being drafted and we will move as quickly as professional investors do.
11. What is your Ambassador title and the involvement with IIMSAM about?
IIMSAM is dedicated to fighting malnutrition in the world, especially in poor countries, through the use of the Micro-Algae Spirulina. Recently I was appointed "Ambassador at large" for IIMSAM after having been a "Goodwill Ambassador" for them before. (www.iimsam.org). With all my heart and energy I am trying to support them. Al Fahim Asia Associates will also contribute part of its profit from the investments to IIMSAM to fight malnutrition and (through "Camp Maradona") help provide education to children across the globe.
12. What is your message to Portsmouth fans?
Everything I have seen makes me sure that we can build a great football club in the years to come. Portsmouth has incredible history, and its fans are some of the most loyal in the world of football. I look forward not just to working with them, but listening to their views on how they want to take the club forward. I am the investor, but this is their club and their community - and it is a privilege to be taking charge.
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Last Updated:
28 May 2009 11:28 AM
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Source:
The News
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Location:
Portsmouth