The proposed takeover of Portsmouth by Sulaiman Al-Fahim has hit further problems and with more delays it may not be concluded before the start of next season.

The delays centre on issues regarding new rules for investors, with anyone who owns in excess of 10% of a football club having to be named in public. Al-Fahim is thought to be the sole owner of the club, but he has stated in the past that funding is through the 'Network of Falcon Equity.'

This has caused confusion as to whether he is the principle owner of the football club or not.

The Telegraph are reporting that an investigation could take a matter of months. It was initially thought that the process would be complete by July 1st.

It's a particularly worrying time for the club. They are still in a lot of debt to a number of banks, and are unable to reduce it with the takeover incomplete. Furthermore they are keen to add to the squad in the off-season and are also not allowed to make any purchases in their current situation.

As we reported here on ExtraFootie, a number of the club's top stars are eyeing moves away from the club, amidst concerns over the takeover, including veteran defender Sol Campbell and Peter Crouch.