(CNN) -- Middle-Eastern investment is continuing apace in the English Premier League despite the tough economic climate, with Dubai-based Sulaiman Al Fahim completing his long-awaited takeover of Portsmouth. Sulaiman Al Fahim has continued his interest in English football with a buyout of Portsmouth. Al Fahim, a board member of the Abu Dhabi United Group which bought out Manchester City a year ago, has been named chairman of the cash-strapped club after passing the EPL's "fit and proper" ownership test. He replaces Alexandre Gaydamak, who became co-owner of the south-coast club in January 2006 and took over full control six months later.
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Dubai-based billionaire Sulaiman Al Fahim completes takeover of Portsmouth
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Al Fahim becomes chairman, replacing former owner Alexandre Gaydamak
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He rewards caretaker manager Paul Hart with two-year deal as permanent boss
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England striker Peter Crouch decides against a move north to Sunderland
Paul Hart
"@placeholder did a great job keeping the team in the Premier League last season, and having previously worked as director of youth operations he knows the club inside out," Al Fahim said.