Portsmouth became the second English Premier League club to be owned by investors from the United Arab Emirates on Tuesday when they confirmed a takeover led by Sulaiman al-Fahim. Portsmouth also announced that Paul Hart had signed a two-year contract as manager after steering them clear of the relegation zone in a caretaker role last year.
The actor was in the United Aram Emirates to launch the Hydra Twin Towers Hydra project at Jumeirah Village, Dubai.
Argentine football legend Diego Maradona is planning to launch the world's first Maradona Sports Cafe in Dubai by next year.
For thousands of expatriates lured to Dubai by the promise of year-round sunshine and a tax-free lifestyle, the party is over. Corporate restructurings have arrived hard on the heels of steep falls in property prices and plummeting consumer confidence; El Dorado is fading back into desert. As the cutbacks spread from finance and real estate to sectors such as tourism, media and retail, many are packing up and heading home.
A group of up to eight international investors is mulling a bid for English Premier League club Chelsea, one of the investors has told Reuters.
United Arab Emirates company has bought Premier League club Manchester City, a local magazine reported on Monday. Abu Dhabi United Group for Development and Investment completed the deal late on Sunday, Arabian Business magazine reported, citing board member Sulaiman al-Fahim.
Hong Kong businessman Balram Chainrai has become Portsmouth's fourth owner in less than a year and will soon look to sell on to a fifth, the troubled Premier League club said on Thursday.
