October:Portsmouth's owner Sulaiman Al-Fahim reveals he is selling 90 per cent of his overall shareholding in the club to Ali al-Faraj, a 40-year-old property investor from Saudi Arabia. The deal is completed two days later and Faraj provides £1.8 million to cover the players' unpaid wages as well as promising "substantial investment" in the club.
He appoints Avram Grant as director of football. Three days before the end of the month, the Premier League reveals it has enforced a transfer embargo on Portsmouth as punishment for outstanding transfer payments. To shore up the club finances, Faraj secures a £15 million loan from Portpin Limited. The funds, in part, go towards paying the players.
November
The manager, Paul Hart, is sacked days after Portsmouth lose 1-0 to Stoke City. “There was an inevitability about it,” said Faraj’s representative, Mark Jacob. “It is disappointing. But we can’t continue to be unlucky in games which we have been on top.”
Grant replaces Hart within 48 hours but the Israeli’s first game in charge is a disappointing one as Portsmouth lose 4-1 to Manchester United.
December
For a second time, Portsmouth fail to pay their players’ wages on time. An emergency loan is secured to cover the shortfall but there is more bad news when it is revealed that the British revenue commissioners issued a winding-up order against Portsmouth over a disputed payment of £3.5 million. That same night, Pompey lose 4-1 to Arsenal. A day later, the club confirms it has failed to pay its players on time for a third time in four months.
Fahim’s predecessor, Sacha Gaydamak, also raises questions about the ownership structure of the club and claims he is still owed £28 million following his departure from Fratton Park. “If the club goes into administration I lose everything,” he said.
January
Around 150 Portsmouth fans protest outside Fratton Park following the club’s 1-1 draw with Coventry in the third round of the FA Cup. “They’re entitled to voice their frustration,” says midfielder Richard Hughes. Three days later, Portsmouth miss their own deadline to pay their players’ most recent unpaid wages.
Daniel Azougy, an Israeli lawyer brought in to help find new investment, admits the club must pay £40 million to creditors by January 10th, when Pompey hope their transfer embargo will be lifted.
“Many mistakes were made before the takeover and now we are trying to put everything back in order. But it’s not easy,” he said.
