Zamalek Denies Intention to Sell the Club and Sets Out Investment Rules for Football Company
In a statement responding to questions from fans and general assembly members, Zamalek’s board said it does not intend to sell the club or its football company. It said the plan is to increase the company’s capital and develop it, and that no steps will be taken before the required studies and legal and financial guarantees are completed.
The statement said the club had received investment offers, discussed some of them and was still studying others, but had not signed any contracts or agreements to date. The board links the company’s development and the separation of sports activities from social activities to strengthening the club’s resources and achieving financial stability. This is to be based on a feasibility study, separate financial statements, and an inventory of assets, rights and obligations.
Zamalek said contracts would be subject to Egyptian law and that Egyptian courts would have jurisdiction over any dispute, rejecting the inclusion of an international arbitration clause in contracts. According to the statement, the club aims to attract investors for long-term investment and build a strong team, with management powers tied to contractual performance indicators. The investment stake could be divided among more than one investor, or the company’s shares could be offered to the public in accordance with the law.
The board stressed that increasing the capital requires approval from the general assembly, the Ministry of Youth and Sports, and the relevant authorities. The proposed safeguards include keeping decisions concerning the club’s name, emblem, colours, kit, assets and rights in Zamalek’s hands, and preventing the club from being merged, its headquarters from being moved, or the company from being sold or liquidated without its approval. They also include the right to inspect the company’s books, terminate the contract and recover rights if the investor fails to meet its obligations.
The board concluded by reaffirming its commitment to transparency and dialogue with fans and general assembly members, and pledging to keep them informed of developments in the matter. It urged them to obtain information from the club’s official sources.