Abu Dhabi billionaire Sulaiman al-Fahim and a group of other investors are aiming to complete a deal to buy English Premier League club Portsmouth in the next few months having begun due diligence.
Fahim, a board member of the Abu Dhabi United Group for Development and Investment that bought Manchester City last year, has travelled to England to conclude negotiations.
Portsmouth, who won the FA Cup in 2008, finished this season in 14th place, four places above the relegation zone.
The south-coast club's French-born owner Alexandre Gaydamak has been looking for a buyer since December.
Fahim declined to give a value for the deal, but said the price had been attractive because Portsmouth did not have huge debts like other clubs.
Portsmouth made losses of 43 million dollars for the 2007-08 financial year despite winning the FA Cup for the first time in 69 years -- their first major trophy since they won the league title in 1950.
