London, Jan. 26 (ANI): The son of Libyan dictator Colonel Gaddafi could become the new owner of the broke Portsmouth club.
Portsmouth is lining up Saadi Gaddafi, president of the Libyan Football Federation, to save the club from going bust and become its fourth owner in only six months.
On Monday, Gaddafi junior held talks with representatives of Fratton Park supremo Ali Al Faraj.
Portsmouth, which is 60 million pounds in debt, hopes to rush the deal through before next month's High Court hearing over a winding-up order issued by HM revenue and Customs.
"Colonel Gaddafi's son Saadi first expressed an interest in taking over from Al Faraj at the end of last year. That has gathered pace since the Revenue issued their winding-up order and the deal is 95 per cent done," The Mirror quoted a source in Portsmouth, as saying.
"Al Faraj is keen to sell because he knows he cannot afford to finance the debts and does not want his reputation in the Middle East to suffer by presiding over a club that goes bankrupt. Saadi is a big football fan and loves the thought of owning a Premier League team," he added.
Saadi Gaddafi, 36, is a former shareholder in Italian giants Juventus. He also played as a striker for Udinese and Sampdoria, and captained the Libyan national team.
Pompey boss Avram Grant is set to move quickly for new players as the club expect to have their transfer ban lifted by the Premier League today. (ANI)