RAK investor buys 60pc of Premier League club
Dubai, June 22, 2009
A member of a ruling family in the United Arab Emirates has bought a majority stake in an English Premier League soccer club, the official WAM news agency reported on Sunday.
WAM did not name the club but said Sheikh Ahmed bin Saqr Al-Qassimi has bought 60 percent of it, adding that details would be announced in a few days.
Sheikh Ahmed, a member of the ruling family of Ras Al-Khaimah, will be honorary chairman of the club.
Ras Al-Khaimah is one of seven members in the UAE federation which also includes key oil producer Abu Dhabi and regional trade and tourism hub Dubai.
Last year Abu Dhabi's Sheikh Masnour bin Zayed Al Nahyan bought Premier League club Manchester City, while Portsmouth is the subject of a bid from another Abu Dhabi investor, Sulaiman Al-Fahim. - Reuters