'WAM did not name the club but said Sheikh Ahmed bin Saqar al-Qassimi has bought a 60 per cent share, adding that details would be announced in a few days.
'Sheikh Ahmed, a member of the ruling family Ras al-Khaimah, will be honorary chairman of the club.
'Last year Abu Dhabi's Sheikh Masnour bin Zayed al Nahyan bought Premier League club Manchester City, and Portsmouth have been the subject of a bid from another Abu Dhabi investor, Sulaiman al-Fahim.'