Sulaiman al Fahim, the UAE tycoon at the centre of a deal to buy Portsmouth Football Club, has been replaced as chief executive of Hydra Properties, it emerged on Wednesday.

Al Fahim will become a member of the company’s board of directors, said Ahmed Khalil, Hydra’s commercial director, while Ali bin Sulayem of Hydra’s parent company, Royal Group, will replace him as chief executive.

arabianbusiness.com