Mayer Brown advises Sulaiman Al Fahim on the sale of Portsmouth FC
6 October 2009
6 October 2009 - Leading international law firm Mayer Brown has advised Sulaiman Al Fahim on the sale of a 90 per cent stake in Portsmouth Football Club to Falcondrone Limited, a company owned by Saudi Arabian businessman Ali Al-Faraj.
The sale comes just six weeks after Mayer Brown advised Al Fahim on the purchase of the club from Devondale Investments.
Under the new agreement, Al Fahim Asia Associates will retain 10 per cent of the club and Al Fahim will act as the football club's chairman until the end of the 2010/11 season.
Corporate partner Robert Hamill led the team advising Al Fahim with assistance from restructuring partner Ashley Katz and associates Rodney Edgerton, Simon Fisher and Aimee Lewis.
Robert Hamill, corporate partner at Mayer Brown, said: "Sulaiman always sought to bring in new investors, but the requirement for banks and HM Revenue & Customs to be paid out accelerated the process. He is delighted to continue as an investor and chairman."
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