Harroods tycoon Mohamed Al-Fayed has completed a stunning takeover of Fulham this afternoon.
He has become the majority shareholder and chairman of the capital’s oldest professional club, who were promoted from the Third Division under young manager Micky Adams earlier this month, and invested £30m to underwrite the redevelopment of Craven Cottage and revamp Fulham’s academy.
Al-Fayed said: “This is a great day. I’ve been a football fan for a long time and a big admirer of Fulham. They are a great club with great traditions and great history – now I want to help them get back into the Premiership. That is why I am doing this. Chelsea are just around the corner and we can be as big as them – maybe bigger.
It sounds impossible but you have to dream and then sometimes the impossible can happen. I am not here to make money and I certainly don’t need to raise my profile. I am here to enjoy watching football and taking this club to the ultimate position. I am delighted to have this opportunity to invest in such a great and historic football club which so many people hold in such high esteem.
I am totally committed both personally and financially to the plans for the revival of the club and I look forward to sharing a bright future with the loyal fans. I am putting in £30m and that is the minimum stake. There will be more. Myself and Harrods will do anything to help Fulham get to the Premiership.”
As part of his deal, Fulham have scrapped plans for a 15,000-capacity stadium, with Al-Fayed eyeing a 10,000-seat increase alongside a leisure complex.
Al-Fayed added: “It will have cinemas, coffee shops, a Harrods food hall, underground car parking and all sorts. It will help make Fulham great again.”
Bill Muddyman, now vice-chairman having only succeeded Jimmy Hill after the Fulham legend stepped down after a decade at the helm of his old club last week, was delighted to have concluded a deal that was wrapped up in weeks according to insiders.
He said: “This is a dream come true. He understands dreams and he will help us go right to the top. There are special securities in the deal if he should ever change his mind but he is investing £30m and so he means business.”
Al-Fayed’s investment removes any doubt over the future of popular boss Adams, who had been linked with a return to Southampton after steering the Whites out of the Football League basement on a shoestring budget.
