Entrepreneur relieved of duties at company he started
Dr Sulaiman Al-Fahim – the man who was once thought to own Manchester City even though he apparently has nothing to do with them – is facing a spot of bother in the United Arab Emirates.
The man who is expected to take the reins at Portsmouth in a £60m deal has been relieved of his position of CEO of Hydra Properties, one of Abu Dhabi’s leading property developers.
Al-Fahim – pictured above with an old lady and her grandson – has been “promoted” (read: “demoted”) to as directorial position at Hydra, as one of the firm’s biggest projects is on the brink of collapse. The Hydra Village, a project consisting of 2,500 luxury villas, was due to be completed this year, but it is currently two years behind schedule. Understandably, some investors are concerned, including this one who spoke to The Sun:
“The Hydra Village project has been a disaster and I genuinely fear I will never see my money again.
“I would treat anything Al-Fahim says with a great deal of suspicion.”
It doesn’t appear that this messy situation or his links to Manchester City will jeopardize his eligibility for club ownership, but it doesn’t reflect particularly well on Sir David Richards, the Premier League chairman who has given Al-Fahim his endorsement.