Hussein Labib: Zamalek’s debts will not be converted into stakes in the football company

Zamalek chairman Hussein Labib said the establishment of a football company aims to support the club’s financial sustainability and provide stable sources of income, stressing that Zamalek’s debts will not be converted into investment stakes in the company.

Labib said in televised remarks that those who provided financial support to the club would not receive stakes in the company in exchange for amounts owed to them, and that the board of directors would take responsibility for paying the debts and outstanding sums. He stressed that the debt file would be kept separate from investment.

He added that investment in the company would be open to everyone, including board members, subject to terms and valuations to be determined through negotiations. He said some members were considering investing and were waiting for the club’s valuation to be completed and the details of the agreement to be discussed.

Labib said the management had held meetings to answer questions from former stars and players about the project, and that it would negotiate in a way that served Zamalek’s interests. He also stressed that the club’s valuation should not be linked to the scale of its debts and financial crises.