Sulaiman Al-Fahim

Sulaiman Al-Fahim
سليمان الفهيم
Born 1977
Dubai, United Arab Emirates
Alma mater American University
Occupation President of the Arab Union for Real Estate Development[1]

Sulaiman Abdul Kareem Mohammad Al-Fahim[2] (Arabic: سليمان عبدالكريم محمد الفهيم ‎) (born 1977 in Dubai, United Arab Emirates)[3] is the ex-CEO of the Abu Dhabi based Hydra Properties real estate development company,[4] 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".[5]

Contents

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 UAE. 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.[3] There Al-Fahim received his MBA in Finance and Real Estate from Kogod School of Business at the American University - Washington DC, USA.

Other work

Television

Al-Fahim is the founder and host of the business themed reality television show Hydra Executives which was launched in Spring 2008.[6]

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.[7] In June 2008, Al-Fahim was elected as a new president of UAE Chess Federation for 2008–2012.[8] Al-Fahim is a fan of the football clubs Al Ain and Al Jazeera.[9] 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.[10][11]

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.[12]

Manchester City

On 1 September 2008 the Abu Dhabi United Group, 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.[13][14] Al-Fahim was widely believed to be the new owner and potential chairman for the club,[10][15] and made bold statements about his plans to "solve all the club problems".[16] He was outspoken about his ambition to "[bring in] the best football players in the world",[16] and stated that he was "prepared to make a £134 million bid for Cristiano Ronaldo during the January transfer window."[14] 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;[17] Khaldoon Al Mubarak was appointed as the clubs new chairman.[18] In March 2009, it was mistakenly reported by Sport that Al Fahim was a board member at the club,[19] causing Manchester City to clarify that he held no position.[20]

Portsmouth

On 27 May 2009, it was reported that Al-Fahim had signed a deal to take over the English Premier League club Portsmouth.[21] 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.[22] 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.[23] On 29 July, BBC Sport reported that the sales and purchase agreement needed to be finalised to close the transaction.[24] 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.[25] On 1 October 2009, it was reported that the Portmouth FC first team wages had not been paid.[26] On 2 October 2009, it was reported by BBC Sport that Al-Fahim was in hospital in Dubai, with kidney stones.[27] 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.[28] 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.[29] In a previous interview with Arabian Business, Al Fahim contradicted this statement by claiming he sold Portsmouth for zero pounds.[30] In February 2010 a Dubai court issued an arrest warrant for Al Fahim related to a dispute over £1.4m.[31]

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 Nations Millennium Development Goals by encouraging the use of Spirulina to eradicate malnutrition.[32] 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.[29] 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;[33] however, the UN does recognize the IIMSAM as part of the United Nations Economic and Social Council.[34]

References

  1. ^ Al-Fahim, Sulaiman (24 November 2009). "A template for success". Arabian Business. http://www.arabianbusiness.com/a-template-for-success-10601.html. Retrieved 19 October 2010. 
  2. ^ Sayed, Sara (23 May 2008). "Hydra CEO shares his success story". Gulf News. Al Nisr Publishing. http://www.gulfnews.com/friday/People/10215235.html. Retrieved 14 September 2008. 
  3. ^ a b "Top flight prepares for Manchester's 'Trump' card". Irish Independent. Independent News & Media. 2 September 2008. http://www.independent.ie/sport/soccer/premier-league/top-flight--prepares-for-manchesters-trump-card-1467370.html. Retrieved 14 September 2008. 
  4. ^ Sambidge, Andy (17 June 2009). "Sulaiman Al Fahim replaced as Hydra Properties CEO". Arabian Business. http://www.arabianbusiness.com/sulaiman-al-fahim-replaced-as-hydra-properties-ceo-17105.html. Retrieved 19 October 2010. 
  5. ^ Bhoyrul, Anil (28 March 2010). "Welcome to the Power 100 List 2009". Arabian Business. http://www.arabianbusiness.com/flashback--2009-power-100-list-150372.html. Retrieved 19 October 2010. 
  6. ^ "Hydra Executives – CEO". Archived from the original on 11 April 2008. http://web.archive.org/web/20080411192200/http://www.hydraexecutives.com/ceo.html. Retrieved 16 October 2009. 
  7. ^ Herbert, Ian (2 September 2008). "Arrival of Al-Fahim offers City chance to bridge gulf in class". The Independent. Independent News & Media. http://www.independent.co.uk/sport/football/premier-league/arrival-of-alfahim-offers-city-chance-to-bridge-gulf-in-class-915662.html. Retrieved 14 September 2008. 
  8. ^ UAE Chess – Federation Board – http://www.uaechess.net/index.php?pg=management&cat_id=7
  9. ^ Stafford, Philip; Kerr, Simeon (1 September 2008). "Abu Dhabi investors buy Manchester City". Financial Times. Pearson PLC. http://www.ft.com/cms/s/0/abf1a412-784f-11dd-acc3-0000779fd18c.html?nclick_check=1. Retrieved 2 September 2008. 
  10. ^ a b Gripper, Ann (1 September 2008). "10 Things you need to know about Manchester City's Dr Sulaiman Al Fahim". Daily Mirror. Trinity Mirror. http://www.mirror.co.uk/sport/football/2008/09/01/10-things-you-need-to-know-about-manchester-city-s-dr-sulaiman-al-fahim-115875-20720401/. Retrieved 2 September 2008. 
  11. ^ "Manchester City Takeover". ArabianBusiness.com. 2 September 2008. http://www.arabianbusiness.com/abu-dhabi-seals-deal-buy-manchester-city-44156.html. Retrieved 19 October 2010. 
  12. ^ Press release (6 November 2008). "HM The King of Malaysia honours Dr. Sulaiman Al Fahim for his tireless support to global sports". Arabian Business. http://www.arabianbusiness.com/press-release/?pressReleaseId=31243. Retrieved 19 October 2010. 
  13. ^ Wilson, Jeremy (3 September 2008). "Chelsea's world shaken up by Manchester City's super-rich sheikh". The Daily Telegraph. http://www.telegraph.co.uk/sport/football/teams/chelsea/2670891/Chelseas-world-shaken-up-by-Manchester-Citys-super-rich-sheikh-Football.html. Retrieved 19 October 2010. 
  14. ^ a b "Sulaiman Al-Fahim planning £130m January bid for Cristiano Ronaldo". Times Online. News International. 2 September 2008. http://www.timesonline.co.uk/tol/sport/football/premier_league/manchester_city/article4659785.ece. Retrieved 3 September 2008. 
  15. ^ Wilson, Jeremy (1 September 2008). "New Manchester City owner, aged 31, 'the Donald Trump of Abu Dhabi'". The Daily Telegraph. Telegraph Media Group. http://www.telegraph.co.uk/sport/football/teams/manchester-city/2661234/Manchester-City-owner-Donald-Trump-of-Abu-Dhabi-Football.html. Retrieved 19 October 2010. 
  16. ^ a b "Arab group agrees Man City deal". BBC Sport. BBC. 1 September 2008. http://news.bbc.co.uk/sport1/hi/football/teams/m/man_city/7591735.stm. Retrieved 11 June 2009. 
  17. ^ Wilson, Jeremy (8 September 2009). "Manchester City front man Sulaiman Al Fahim sidelined". The Daily Telegraph. Telegraph Media Group. http://www.telegraph.co.uk/sport/football/teams/manchester-city/2707809/Manchester-City-front-man-Sulaiman-Al-Fahim-sidelined-Football.html. Retrieved 19 October 2010. 
  18. ^ Rich, Tim (21 September 2008). "Robinho inspires Manchester City slickers". Telegraph.co.uk. Hollinger Inc.. http://www.telegraph.co.uk/sport/3041607/Robinho-inspires-Manchester-City-slickers----Football.html. Retrieved 21 September 2008. 
  19. ^ "El dueño del City sueña con tener a Maradona de presidente y a Messi de estrella" (in Spanish). Sport. Grupo Zeta. 3 March 2009. http://www.sport.es/default.asp?idpublicacio_PK=44&idioma=CAS&idnoticia_PK=591947&idseccio_PK=803. Retrieved 11 June 2009. 
  20. ^ "Lionel Messi: Club Statement". Manchester City F.C.. 6 March 2009. http://www.mcfc.co.uk/News/Club-news/2009/March/Lionel-Messi-Club-Statement. Retrieved 25 August 2009. 
  21. ^ "Portsmouth agree to takeover bid". BBC Sport. 27 May 2009. http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8070535.stm. Retrieved 21 July 2009. 
  22. ^ Cross, Jordan (13 July 2009). "Pompey takeover: due diligence at an end". The News. http://www.portsmouth.co.uk/sport/Pompey-takeover-due-diligence-at.5454139.jp. Retrieved 16 October 2009. 
  23. ^ "Sulaiman Al Fahim Becomes Pompey Chairman". Portsmouth FC. 21 July 2009. http://www.portsmouthfc.co.uk/index.php?cms_ref=news. Retrieved 25 August 2009. 
  24. ^ "Portsmouth edge closer to buy-out". BBC Sport. 29 July 2009. http://news.bbc.co.uk/sport2/hi/football/teams/p/portsmouth/8160777.stm. Retrieved 25 August 2009. 
  25. ^ "Sulaiman Al Fahim announces ownership of Pompey". The News. 26 August 2009. http://www.portsmouth.co.uk/sport/Sulaiman-Al-Fahim-announces-ownership.5589931.jp. Retrieved 26 August 2009. 
  26. ^ "Portsmouth admit first-team squad have not been paid this week". The Guardian. 1 October 2009. http://www.guardian.co.uk/football/2009/oct/01/portsmouth-premierleague. Retrieved 14 August 2011. 
  27. ^ "Portsmouth owner 'faces surgery'". BBC Sport. 2 October 2009. http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8286657.stm. Retrieved 16 October 2009. 
  28. ^ "Saudi completes Pompey takeover". BBC Sport. 6 October 2009. http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8289279.stm. Retrieved 16 October 2009. 
  29. ^ a b Basneed, Mohammed (16 October 2009). "Q&A with Former Portsmouth Owner Sulaiman al Fahim". Asharq Al-Awsat. http://aawsat.com/english/news.asp?section=3&id=18494. Retrieved 16 October 2009. 
  30. ^ "EXCLUSIVE: 'I sold Portsmouth for zero pounds' – Al Fahim". Arabian Business. 6 October 2009. http://www.arabianbusiness.com/exclusive-i-sold-portsmouth-for-zero-pounds-al-fahim-12172.html. Retrieved 19 October 2010. 
  31. ^ "Sulaiman al-Fahim 'facing arrest' over disputed property deal – reports". The Guardian. 17 February 2010. http://www.guardian.co.uk/football/2010/feb/17/sulaiman-al-fahim-portsmouth. Retrieved 14 August 2011. 
  32. ^ "IIMSAM appoints H.E. Dr. Sulaiman Al Fahim of the United Arab Emirates as its Goodwill Ambassador in support of the United Nations Millennium Development Goals" (PDF). IISAM. 1 December 2008. http://www.iimsam.org/images/IIMSAM-OfficialPressRelease-GWA-H.E.Dr.pdf. Retrieved 16 October 2009. 
  33. ^ Gillis, Richard (2 October 2009). "Portsmouth owner Sulaiman Al Fahim: Is he all that he seems?". Daily Mail. http://www.dailymail.co.uk/sport/football/article-1217575/Portsmouth-owner-Al-Fahim-Is-seems.html. Retrieved 20 October 2009. 
  34. ^ "Economic and Social Council president calls for action to turn ‘threatening situation into renaissance’ as special session on food crisis concludes". The United Nations. 22 May 2008. http://www.un.org/News/Press/docs/2008/ecosoc6334.doc.htm. Retrieved 24 November 2009.