© EuroFootball.com
On Friday, the new co-owner, Russian billionaire Alexander Gaydamak, officially introduced himself, stating that his first goal is to maintain the club in the English Premiership League.
The 29-year-old Russian businessman was introduced at a press conference alongside the other club owner and president, Milan Mandaric.
"I am very happy to be one of the team owners," A. Gaydamak said. "At the moment, our main priority is to keep the club in the Premiership league, and only then can we talk about the next step."
A. Gaydamak owns exactly 50% of the shares of the English coastal city club - the same amount as M. Mandaric.
A. Gaydamak's father, Arkady, is internationally wanted for suspected arms trading in exchange for oil to Angola in 1994. Alexander Gaydamak himself denied at the press conference that his father, Arkady Gaydamak, invested in the club under the guise of his son.
"There is no connection between my father and Portsmouth. I do not need his money to conduct my business," A. Gaydamak said. "It is my money, which I have earned over ten years. In Russia, I worked in finance and real estate."
On Friday, Portsmouth officially presented their new team purchase, Benjani Mwaruwari, who arrived in Portsmouth for a record sum of £4.1 million for the club. However, A. Gaydamak did not disclose how much money will be allocated to strengthen the team for the head coach, Harry Redknapp.
"I met with Harry on Thursday, and we had a pleasant conversation, but all decisions will be made with the club's management, including transfer policy," the new co-owner of Portsmouth said.
