Mideast buyer confirms deal to buy Portsmouth FC

DUBAI, United Arab Emirates (AP) -Premier League club Portsmouth is being bought up by the same Arab businessman who helped negotiate last year's takeover of Manchester City.

United Arab Emirates businessman Sulaiman al-Fahim said in a text message to The Associated Press Wednesday that his investment vehicle Al Fahim Asia Associates has signed a memorandum of understanding to acquire the Premier League club.

It was not immediately clear when the deal might be finalized, or what the terms would be. There was no immediate comment from Portsmouth.

Signing a memorandum of understanding implies an intent to sell, but also leaves open the possibility that any deal could still fall through.

Portsmouth owner Alexandre Gaydamak has said publicly that he wants to sell the club, which won the FA Cup last year but was in danger of relegation this season as it went through three managers. He has been at Pompey since January 2006.

Al-Fahim did not provide any additional details about the deal.

A Dubai-based Web site that has maintained close ties to the Abu Dhabi-based businessman reported earlier Wednesday that Gaydamak met with Al-Fahim in Rome ahead of the Champions League final between Manchester United and Barcelona.

The Web site previously broke the news of the Manchester City takeover, which al-Fahim helped broker on behalf of an investment group led by Sheik Mansour Bin Zayed Al Nahyan, a prominent member of Abu Dhabi's ruling family.

Al-Fahim is the chief executive of Abu Dhabi-based real estate developer Hydra Properties.

He is also the host of an "Apprentice''-style Middle East reality show that pits teams of American and British entrepreneurs against one another for a chance to work at his company.

City is widely recognized as the richest club in football following its change in ownership.

Portsmouth could see its budget and scope for expansion greatly increased by any similar move.