Sulaiman Al Fahim has pointed the finger of blame firmly towards Portsmouth's previous regime.
Pompey director hits out amid financial concerns
Sulaiman Al Fahim has pointed the finger of blame firmly towards Portsmouth's previous regime with the Fratton Park club struggling on and off the field.
Al Fahim briefly took control of the club from former owner Sacha Gaydamak after a protracted takeover bid before handing the reins to Ali Al Faraj.
Pompey were forced to issue a statement earlier this week rejecting 'malicious rumours' that they were about to be plunged into administration, with the wages for players and staff being paid late twice in recent months.
The South Coast side remain rooted to the foot of the Premier League, a far cry from their FA Cup final success under former manager Harry Redknapp in 2008.
And Al Fahim believes it is the excesses of the past which have led to their current plight, with former boss Paul Hart and his replacement Avram Grant both operating on a shoe-string budget.
Al Fahim is quoted by The Sun
as saying: "Gaydamak was allowing the management to do whatever they wanted.
"And they used to spend a lot of money on players, on wages and so when I came into the club it was in deep trouble.
"There was no proper budget, no proper policy on spending. So what we are doing now is cleaning up the mess."
Chief executive Peter Storrie has remained at the club throughout all the recent upheaval and has pledged not to walk away as he seeks to bring in fresh investment to ease their financial concerns.
Al Faraj has brought in lawyer Mark Jacobs and financial advisor Danny Azougy to work alongside Storrie and financial director Tanya Roberts in a bid to balance the books, with some reports of friction between the quartet.
Al Fahim claims they are all working together towards a common cause, but suggested Storrie was having to adapt to the new regime.
He said: "Mark and Danny are trying to save the club from the debts, the mis-management and the wild spending of the previous years.
"They are doing their bit and from what I see they work with Peter and Tanya on a daily basis so I don't think it's a problem."
He added: "Maybe Peter doesn't like their style of management. He's used to spending a lot but now it's time for putting matters properly into place.
"But he's not being sidelined - when we changed the manager recently Peter was fully involved. He's also away trying to bring in new investors. We're all working on that, to try and make that happen.
"Hopefully there will be some good news on that front in January."