Sulaiman Al-Fahim
Encyclopedia
Sulaiman Abdul Kareem Mohammad Al-Fahim (born 1977 in Dubai
, United Arab Emirates
) is the ex-CEO of the Abu Dhabi based Hydra Properties real estate development company, and president of the Arab Union for Real Estate Development. Al-Fahim is a 10% shareholder and non-executive chairman of English football club Portsmouth
having sold a 90% share to Ali Al-Faraj
in October 2009, after only 40 days as the full owner. In March 2009, Al-Fahim was listed fourth in Arabian Business
magazine's list of "The World's most influential Arabs".
. In 1998, when he was 21, his parents and younger brother were killed in a road traffic accident near Dubai Airport
. Following this loss he moved to the United States. There Al-Fahim received his MBA in Finance and Real Estate from Kogod School of Business at the American University - Washington DC, USA.
show Hydra Executives which was launched in Spring 2008.
for 2008–2012. Al-Fahim is a fan of the football clubs Al Ain
and Al Jazeera. Additionally, during his time at Hydra Properties, he was involved in sponsorship of Dubai sports television, a Costa Rican soccer team, the German Bundesliga as well as building a new football academy in Abu Dhabi with Italian football giants Internazionale.
In November 2008 Al Fahim was honored with a gold medal of excellence from HM Tuanku Mizan Zainal Abidin, The King of Malaysia, for his work supporting Equestrian activities world wide. Al Fahim was honored with this distinction during the FEI World Endurance Championship 2008 in Malaysia.
, of which Al-Fahim is a board member, agreed the take over of Premier League football club Manchester City
. The deal was signed at the Emirates Palace Hotel in the presence of Al-Fahim, who represented ADUG. Within hours of the take over deal being finalized, ADUG financed the purchase of Robinho
for a British transfer record of £32.5 million. Al-Fahim was widely believed to be the new owner and potential chairman for the club, and made bold statements about his plans to "solve all the club problems". He was outspoken about his ambition to "[bring in] the best football players in the world", and stated that he was "prepared to make a £134 million bid for Cristiano Ronaldo
during the January transfer window
." However, before the take over was completed, wealthy backer Mansour bin Zayed Al Nahyan
became a more prominent figure, and it became unclear whether Al-Fahim would join the board
at Manchester City; Khaldoon Al Mubarak
was appointed as the clubs new chairman. In March 2009, it was mistakenly reported by Sport
that Al Fahim was a board member at the club, causing Manchester City to clarify that he held no position.
. Owner Alexandre Gaydamak
agreed a price of around £60 million, with the deal proposed to be completed by 28 July 2009. On 13 July the club's website said that the due diligence
part of the deal had been completed, Al-Fahim Asia Associates were conducting their final commercial assessment, and that a formal application for the "Fit and Proper Persons" test to the Premier League had been submitted. On 21 July, it was confirmed that Al-Fahim had passed the test and that an agreement in principle had been reached to sell the club with Al-Fahim joining the board as chairman. On 29 July, BBC Sport reported that the sales and purchase agreement needed to be finalised to close the transaction. However, on 19 August, the club's website revealed that a new consortium led by the current club CEO Peter Storrie
was negotiating over the purchase of the team, and that Al-Fahim may be a partner in the new consortium. On 26 August 2009 The News, confirmed that Sulaiman Al-Fahim was the new owner of Portsmouth F.C. having full control of the club.
On 1 October 2009, it was reported that the Portmouth FC first team wages had not been paid.
On 2 October 2009, it was reported by BBC Sport
that Al-Fahim was in hospital in Dubai
, with kidney stones. On 5 October 2009, just over 40 days after purchasing the club, Al-Fahim sold 90 percent of his stake in Portsmouth to Ali al-Faraj
and his business Falcondrone Ltd. As part of the deal Al-Fahim became non-executive chairman at the club until the end of the 2010–11 season
. In an interview on 16 October 2009, Al-Fahim stated that it had been a good investment as he had sold 90 percent of the shares for £70 million and retained all of the club's real estate
assets. In a previous interview with Arabian Business, Al Fahim contradicted this statement by claiming he sold Portsmouth for zero pounds. In February 2010 a Dubai court issued an arrest warrant for Al Fahim related to a dispute over £1.4m.
Millennium Development Goals
by encouraging the use of Spirulina to eradicate malnutrition. In an interview with Asharq Al-Awsat, Al-Fahim stated that he and his wife had launched a charity in Kenya called Dar al Mumineen, where they have sponsored and looked after the medical needs of a few thousand children. According to the Daily Mail
, the United Nations deny endorsing IIMSAM and its lawyers are seeking clarification of Al Fahim's tendency to refer to himself as a UN Ambassador; however, the UN does recognize the IIMSAM as part of the United Nations Economic and Social Council.
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
) is the ex-CEO of the Abu Dhabi based Hydra Properties real estate development company, and president of the Arab Union for Real Estate Development. Al-Fahim is a 10% shareholder and non-executive chairman of English football club Portsmouth
Portsmouth F.C.
Portsmouth Football Club is an English football club based in the city of Portsmouth. The club is nicknamed Pompey. Portsmouth's home matches have been played at Fratton Park since the club's formation in 1898. The team currently play in the Football League Championship after being relegated from...
having sold a 90% share to Ali Al-Faraj
Ali al-Faraj
Ali al-Faraj is a Saudi Businessman, and formerly the majority stakeholder in Portsmouth Football Club. It has been suggested that he may not exist.-Portsmouth FC:...
in October 2009, after only 40 days as the full owner. In March 2009, Al-Fahim was listed fourth in Arabian Business
Arabian Business
Arabian Business is the Middle East's best selling weekly business magazine. The magazine focuses on the English and Arabic speaking communities and is published in both languages.-Arabian Business:Arabian Business is audited by BPA Worldwide...
magazine's list of "The World's most influential Arabs".
Early life
Al-Fahim was born in Dubai in 1977. From the age of eleven he worked in his father's Orient Pharmacy after school. At the age eighteen he founded the "Sulaiman Al Fahim Group" which financed education and sports in the UAEUnited Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
. In 1998, when he was 21, his parents and younger brother were killed in a road traffic accident near Dubai Airport
Dubai International Airport
Dubai International Airport is an international airport serving Dubai, the largest city of the United Arab Emirates. It is a major aviation hub in the Middle East, and is the main airport of Dubai. It is situated in the Al Garhoud district, southeast of Dubai...
. Following this loss he moved to the United States. There Al-Fahim received his MBA in Finance and Real Estate from Kogod School of Business at the American University - Washington DC, USA.
Television
Al-Fahim is the founder and host of the business themed reality televisionReality television
Reality television is a genre of television programming that presents purportedly unscripted dramatic or humorous situations, documents actual events, and usually features ordinary people instead of professional actors, sometimes in a contest or other situation where a prize is awarded...
show Hydra Executives which was launched in Spring 2008.
Sport
A keen chess player, Al-Fahim represented his country as a youth and is currently president of the UAE Chess Association, also claiming to have been ranked fifth in the world in his age group at the age of nine. In June 2008, Al-Fahim was elected as a new president of UAE Chess FederationUAE Chess Federation
United Arab Emirates Chess Federation was established in October 1976 with the object of the spreading and development of chess game as mental and cultural sport across the United Arab Emirates....
for 2008–2012. Al-Fahim is a fan of the football clubs Al Ain
Al Ain FC
Al-Ain Sports and Cultural Club is a professional association football and mult-sports club based in the city of Al Ain in the United Arab Emirates. The football section of Al Ain won the 2003 AFC Champions League competition with a 2-1 aggregate victory over BEC Tero Sasana of Thailand.Al Ain...
and Al Jazeera. Additionally, during his time at Hydra Properties, he was involved in sponsorship of Dubai sports television, a Costa Rican soccer team, the German Bundesliga as well as building a new football academy in Abu Dhabi with Italian football giants Internazionale.
In November 2008 Al Fahim was honored with a gold medal of excellence from HM Tuanku Mizan Zainal Abidin, The King of Malaysia, for his work supporting Equestrian activities world wide. Al Fahim was honored with this distinction during the FEI World Endurance Championship 2008 in Malaysia.
Manchester City
On 1 September 2008 the Abu Dhabi United GroupAbu Dhabi United Group
The Abu Dhabi United Group for Development and Investment is a United Arab Emirates private equity company owned by Sheikh Mansour bin Zayed Al Nahyan, member of the Abu Dhabi Royal Family and Minister of Presidential Affairs for the UAE...
, of which Al-Fahim is a board member, agreed the take over of Premier League football club Manchester City
Manchester City F.C.
Manchester City Football Club is an English Premier League football club based in Manchester. Founded in 1880 as St. Mark's , they became Ardwick Association Football Club in 1887 and Manchester City in 1894...
. The deal was signed at the Emirates Palace Hotel in the presence of Al-Fahim, who represented ADUG. Within hours of the take over deal being finalized, ADUG financed the purchase of Robinho
Robinho
Robson de Souza , more commonly known as Robinho, is a Brazilian professional footballer who currently plays as second striker and winger for Serie A club AC Milan...
for a British transfer record of £32.5 million. Al-Fahim was widely believed to be the new owner and potential chairman for the club, and made bold statements about his plans to "solve all the club problems". He was outspoken about his ambition to "[bring in] the best football players in the world", and stated that he was "prepared to make a £134 million bid for Cristiano Ronaldo
Cristiano Ronaldo
Cristiano Ronaldo dos Santos Aveiro, OIH, , commonly known as Cristiano Ronaldo, is a Portuguese footballer who plays as a winger or striker for Spanish La Liga club Real Madrid and is the captain of the Portuguese national team...
during the January transfer window
Transfer window
The transfer window is the period during the year in which a football club can transfer players from other countries into their playing staff. Such a transfer is completed by registering the player into the new club through FIFA...
." However, before the take over was completed, wealthy backer Mansour bin Zayed Al Nahyan
Mansour bin Zayed Al Nahyan
HH Sheikh Mansour bin Zayed bin Sultan Al Nahyan is a United Arab Emirati politician and member of ruling family of Abu Dhabi . He is the half brother of the current President of UAE, Emir of Abu Dhabi, Khalifa bin Zayed Al Nahyan...
became a more prominent figure, and it became unclear whether Al-Fahim would join the board
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
at Manchester City; Khaldoon Al Mubarak
Khaldoon Al Mubarak
H.E. Khaldoon Khalifa Al Mubarak is an Emirati businessman.Educated in the United States, he entered a career in construction and real estate, becoming CEO of the Mubadala Development Company...
was appointed as the clubs new chairman. In March 2009, it was mistakenly reported by Sport
Sport (newspaper)
Sport is a Spanish daily sports newspaper based in Barcelona, Spain. Founded in 1979, it is owned by Grupo Zeta, who also publishes El Periódico de Catalunya....
that Al Fahim was a board member at the club, causing Manchester City to clarify that he held no position.
Portsmouth
On 27 May 2009, it was reported that Al-Fahim had signed a deal to take over the English Premier League club PortsmouthPortsmouth F.C.
Portsmouth Football Club is an English football club based in the city of Portsmouth. The club is nicknamed Pompey. Portsmouth's home matches have been played at Fratton Park since the club's formation in 1898. The team currently play in the Football League Championship after being relegated from...
. Owner Alexandre Gaydamak
Alexandre Gaydamak
Alexandre "Sacha" Gaydamak is a French businessman of Russian Ashkenazi Jewish descent, and also holds an Israeli passport. A member of the wealthy Gaydamak family, he is the son of Arcadi Gaydamak....
agreed a price of around £60 million, with the deal proposed to be completed by 28 July 2009. On 13 July the club's website said that the due diligence
Due diligence
"Due diligence" is a term used for a number of concepts involving either an investigation of a business or person prior to signing a contract, or an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations...
part of the deal had been completed, Al-Fahim Asia Associates were conducting their final commercial assessment, and that a formal application for the "Fit and Proper Persons" test to the Premier League had been submitted. On 21 July, it was confirmed that Al-Fahim had passed the test and that an agreement in principle had been reached to sell the club with Al-Fahim joining the board as chairman. On 29 July, BBC Sport reported that the sales and purchase agreement needed to be finalised to close the transaction. However, on 19 August, the club's website revealed that a new consortium led by the current club CEO Peter Storrie
Peter Storrie
Peter Storrie was a Director and the Chief Executive Officer of English Premier League team Portsmouth. He had formerly worked for West Ham United, Southend United and Notts County.-West Ham United:...
was negotiating over the purchase of the team, and that Al-Fahim may be a partner in the new consortium. On 26 August 2009 The News, confirmed that Sulaiman Al-Fahim was the new owner of Portsmouth F.C. having full control of the club.
On 1 October 2009, it was reported that the Portmouth FC first team wages had not been paid.
On 2 October 2009, it was reported by BBC Sport
BBC Sport
BBC Sport is the sports division of the BBC. It became a fully dedicated division of the BBC in 2000. It incorporates programmes such as Match of the Day, Grandstand , Test Match Special, Ski Sunday, Rugby Special and coverage of Formula One motor racing, MotoGP and the Wimbledon Tennis...
that Al-Fahim was in hospital in Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, with kidney stones. On 5 October 2009, just over 40 days after purchasing the club, Al-Fahim sold 90 percent of his stake in Portsmouth to Ali al-Faraj
Ali al-Faraj
Ali al-Faraj is a Saudi Businessman, and formerly the majority stakeholder in Portsmouth Football Club. It has been suggested that he may not exist.-Portsmouth FC:...
and his business Falcondrone Ltd. As part of the deal Al-Fahim became non-executive chairman at the club until the end of the 2010–11 season
2010–11 in English football
The 2010–11 season was the 131st season of competitive football in England.The season began on 6 August 2010 for the Football Leagues, with the Premier League and Football Conference both starting eight days later on 14 August 2010. The Championship, League One, and League Two ended on 7 May...
. In an interview on 16 October 2009, Al-Fahim stated that it had been a good investment as he had sold 90 percent of the shares for £70 million and retained all of the club's real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
assets. In a previous interview with Arabian Business, Al Fahim contradicted this statement by claiming he sold Portsmouth for zero pounds. In February 2010 a Dubai court issued an arrest warrant for Al Fahim related to a dispute over £1.4m.
Charity work
In December 2008, Al-Fahim was appointed by the Intergovernmental Institution for the use of Micro-algae Spirulina Against Malnutrition (IIMSAM) as a Goodwill Ambassador at Large in support of the United NationsUnited Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
Millennium Development Goals
Millennium Development Goals
The Millennium Development Goals are eight international development goals that all 193 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015...
by encouraging the use of Spirulina to eradicate malnutrition. In an interview with Asharq Al-Awsat, Al-Fahim stated that he and his wife had launched a charity in Kenya called Dar al Mumineen, where they have sponsored and looked after the medical needs of a few thousand children. According to the Daily Mail
Daily Mail
The Daily Mail is a British daily middle-market tabloid newspaper owned by the Daily Mail and General Trust. First published in 1896 by Lord Northcliffe, it is the United Kingdom's second biggest-selling daily newspaper after The Sun. Its sister paper The Mail on Sunday was launched in 1982...
, the United Nations deny endorsing IIMSAM and its lawyers are seeking clarification of Al Fahim's tendency to refer to himself as a UN Ambassador; however, the UN does recognize the IIMSAM as part of the United Nations Economic and Social Council.