UAE's Fahim takes over Portsmouth football club

Dubai-based businessman Sulaiman al-Fahim became the chairman of Portsmouth on Tuesday after the Premier League approved his proposed financial takeover of the football club.

Fahim, 32, struck a deal to buy the club from current owner Alexandre Gaydamak in May before entering a period of legal and financial due diligence to satisfy the leagye he was the proper person to take over control.

 The club has a long and fine history of achievement that I intend to build on 

Sulaiman al-Fahim

"The Premier League can confirm that Mr. al-Fahim has submitted all the documentation required to satisfy our fit and proper persons test,” an official statement from the club said.

Fahim said he looked forward to working with the club's management and supporters to develop the club and ensure success. "The club has a long and fine history of achievement that I intend to build on," he said.

Following the league's announcement Portsmouth said Fahim would join the board as chairman immediately. He reportedly intends to overhaul the club, which placed 14th in this season’s Premier League a year after it won the Football Association Challenge Cup, of the FA Cup.

The United Arab Emirates businessman helped broker the takeover of Manchester City last September on behalf of the Abu Dhabi United Group, an investment group, though he is no longer involved.

Earlier this year, Fahim reportedly inquired about buying Chelsea from Roman Abramovich as part of a consortium believed to have bid more than 700 million pounds ($1.15 billion).