I'll keep spending

Friday 31 May 2002

Chairman Mohamed Al Fayed says he will keep spending to help the club's short-term future and he has no plans of retiring from the boardroom.

Despite announcing a record loss of £24.3million for the season just ended, the Harrods owner has earmarked a large budget for new players, including the outlay on new striker Facundo Sava.

The losses do not ruffle Al Fayed, with the Fulham chairman adamant he is prepared to pay an even heavier price if it means the club can challenge the English elite at the top of the Premiership.

He said: "I always knew that we would incur losses at the beginning. This is part of the evolutionary process of sustaining a future at the highest level.

"I have no doubt I will have to invest more in the short term, but I am confident this will underpin the long-term survival of the club with eventual financial benefits."

With his 70th birthday at the start of next year, Al Fayed insists he has no intention of retiring from the job he loves just yet.

"When you are involved in something that means so much to so many people, why would you want to give that up?" he added. "As far as retirement is concerned it's something I never think about."