Joorabchian Sets His Sights on Fulham - 31/01/2007

Having lost out to the Icelandic consortium at West Ham, Iranian-born businessman Kia Joorabchian has set his sights on Fulham. Israeli hotel and property millionaire Eli Papoushado and former West Ham chief executive Paul Aldridge are also part of his consortium. Although the existence of an approach is being officially denied at Craven Cottage, it is understood that Mohamed Al Fayed may consider cutting his losses and selling the club for about £80 million. Al Fayed will try to push up the price by arguing that he has spent more than £150m in establishing the club in the Premiership and than an estimated £33m will pour into the club from television and prize money next season. Joorbchian will counter that Craven Cottage's capacity of about 22,000 will make it hard from him to leverage any real value from the deal if the price is not right.