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Dec 21, 2009

Pompey still searching for investment

Portsmouth chief executive Peter Storrie has been asked by owner Ali Al-Faraj to find investors interested in putting money into the club.

Al-Faraj bought out former owner Sulaiman Al-Fahim to take control of Portsmouth in October, an event decribed by Storrie as a "minor miracle". And after the takeover, Storrie told ESPN Soccernet: "I would anticipate that the club will be refinanced within a couple of weeks. The takeover is all completed, and I am delighted."

But less than two months later it appears that financial question marks still hang over the club, with the players and staff paid late for a second time at the beginning of December and the club being forced to issue a statement denying they were on the brink of administration, after widespread speculation.

Storrie, however, is confident of finding outside investment to bring to Fratton Park.

"I have already had meetings with people in Australia and Hong Kong and we will see how that develops,'' Storrie told the Portsmouth News. "We are still talking to several people and there will be more meetings over the next week and into the New Year.

"Ali wants what is best for this football club and he has asked me to do this. He is very keen for additional investment into the club and I am hoping things can happen.

"I am now concentrating on that. I have done it before with both Sulaiman Al-Fahim and then Ali being brought on board. Now I am trying to do it again and will continue to work hard on that task for the good of this club.

"I am doing everything possible to help, I can assure the fans of that, and hopefully there will be some positive news. At this moment in time, I cannot guarantee one way or the other whether an investor will be found. It would not be right for me to speculate. However, I am optimistic.''

There is optimism on the pitch too after the victory over Liverpool at the weekend ignited the club's hopes of Premier League survival.

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