Sulaiman al-Fahim, who is hoping to buy Portsmouth, yesterday left his role as CEO of Hydra Properties, the embattled Abu Dhabi real estate company. The Dubai-based businessman was last summer sidelined from Manchester City after the club was bought by Sheikh Mansour.
Fahim described his change of role to a position on the Hydra board and his appointment as chairman of the Arab Union for Real Estate Development as a "promotion". But he was already the president of Aured, having been voted into the position in March. And given that he has been superseded as CEO of Hydra by Ali bin Sulayem, an executive of the Royal Group, which is Hydra's parent company, his successor is apparently a superior.
Fahim's spokesman, Ivo Ilic Gabara, said there was no similarity to his departure from City and no cause for Portsmouth to worry. "Let me be very clear on his role in the Manchester City deal," he said. "He had been given the role to structure, negotiate and bring to a successful conclusion the acquisition of Manchester City. That was the brief he accepted and on which he successfully delivered. He moved on [from City] but that was the intention from the very beginning.
"It was a radically different situation from one we are seeing in the Portsmouth deal where it is an entity fully owned by Sulaiman al-Fahim – Al-Fahim Asia Associates — which is acquiring the club. So now he is the acquiring party."
Ilic Gabara stressed that Fahim has enhanced his status by leaving the CEO role at Hydra. "He has been promoted to become the chairman of the Arabs Union of Real Estate Development [which was founded in March]. This is a body that is super-national, an entity that belongs to the Arab League and promotes real estate development in Arab League member state countries.
"So in recognition of his successful track record at Hydra he has gone on to a super-national role and at the same time he has been invited to join the board of Hydra Properties, which he has accepted."
Ilic Gabara added that Fahim is not being consulted by Portsmouth about the potential transfer of Glen Johnson to Liverpool or any on-field matters. "Al-Fahim Asia Associates have made an offer for Portsmouth, they've signed a memorandum of understanding and then gone into due diligence process with a view to completing in course of July," Ilic Gabara said. "They are not the owners of club at this moment in time so therefore it would be completely inappropriate for Al-Fahim Associates to comment on any player transfers [as] they do not own Portsmouth football club."
Ilic Gabara was not able to confirm when Al Fahim — who has always stated that Al Fahim Asia Associates has absolutely no connection with Hydra — would visit Fratton Park again.