 Al Fahim previously helped broker a deal for Man City
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Portsmouth have confirmed a deal has been reached in principle over the sale of the club to United Arab Emirates businessman Sulaiman Al Fahim.
"The owners of Portsmouth are pleased to announce that an agreement in principle has been reached over the sale of the club," said a statement.
Al Fahim has also been appointed Pompey chairman after passing the Premier League's fit and proper person test.
The 32-year-old completed a period of financial due diligence last week.
"The Premier League found no reason why Mr Al Fahim would be liable to be disqualified as a director of a Premier League club," said a statement from the Premier League.
Al Fahim struck a deal to buy the club from owner Alexandre Gaydamak in May after Gaydamak announced he was looking for a buyer because he was unable to devote sufficient time to the club.
More to follow.
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