Premiership / Maxliu / 07 October 2009 / Leave a comment Bet Now

Do the Betfair markets believe the takeover at Fratton Park will save Pompey from the drop?

The price on Portsmouth being relegated has drifted after Saudi property tycoon Ali Al Faraj completed his takeover of the club.

Pompey, who picked up their first points of the season on Saturday with a 0-1 win away to Wolves, have risen to [1.81] after trading at a low of [1.41] in Betfair's Premier League relegation market.

Mr Al Faraj's takeover was announced late on Monday night after his lawyers spent the day in negotiations with club representatives. Sulaiman Al Fahim, who bought the club only six weeks ago, retains a 10% share.

Before the deal, Portsmouth's prospects looked bleak. They lost their first seven games of the season and, with players unpaid, it was forecast that the club could have gone out of business within six weeks.

However, after Al Faraj's purchase went through, a statement from the club announced: "The takeover will ensure Portsmouth's future is safe and will bring financial stability. "

There has been no indication whether funds will be available to manager Paul Hart to buy players in the January transfer window but with Pompey languishing four points from safety fans will be keen for reinforcements to arrive.

In Betfair's relegation 2009/10 market Hull City are the new favourites at [1.64]. Portsmouth are second at [1.81], followed by Burnley at [3.1]. West Ham, who are only two points off the bottom in 19th, are currently trading at [7.6].