Saudi businessman Ali Al-Faraj has completed his takeover of Portsmouth, the club confirmed on Monday night.
Former owner Sulaiman Al-Fahim sold 90% of the shares in Portsmouth to Falcondrone Limited, a company owned by Al-Faraj, freeing up funds to pay players and executives.
A statement on the Portsmouth website, www.portsmouthfc.co.uk, said: "The takeover will ensure Portsmouth Football Club's future is safe and will bring financial stability."
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