Zamalek Launches Official Football Company

The Zamalek Club's Board of Directors, led by Hussein Labib, has officially announced the results of its recent meeting, which included the launch of the club's football company and outlined its key tasks for the upcoming period. In the official statement, Zamalek stated: "The Board of Directors, chaired by Captain Hussein Labib, has overwhelmingly agreed to take a historic step by launching the football company." The statement continued: "This initiative is part of a strategic vision aimed at building a new professional model for managing the football sector, ensuring financial sustainability and long-term stability for the club." It further noted: "This unprecedented step in Zamalek's history represents a pioneering model among Egyptian sports clubs, aiming to financially and administratively separate the management of the football sector from the club, in accordance with the laws and regulations issued by the state and the Ministry of Youth and Sports." The statement added: "The football company will independently manage all its commitments, activities, and financial resources, without burdening Zamalek's treasury with any financial obligations related to the company, reinforcing the concept of modern economic management and ensuring the preservation of the club's resources for the benefit of all sectors." The Board also decided to call for a general assembly meeting (date to be determined) to discuss the establishment of the football company and obtain the assembly's approval, in accordance with the club's bylaws and the Ministry of Youth and Sports regulations. Additionally, Zamalek announced that a financial evaluation of the football company will be conducted by three independent and accredited evaluation firms, in line with the applicable standards for determining the fair value and capital of the company. The football company will have a board of directors independent from Zamalek's board, responsible for the complete management of the company and making investment and operational decisions, while Zamalek retains its share of the company's stock, ensuring the club's rights and strategic interests are protected. The Board emphasized that this initiative has garnered significant interest and support from several businessmen and investors associated with Zamalek, who have expressed their willingness to contribute to the company's establishment and inject necessary investments, believing in the project's importance in building a strong economic entity worthy of the club's name. The statement concluded: "The Zamalek Board of Directors is confident that the establishment of the football company will represent a real turning point in the club's future, providing an independent and sustainable budget for the football sector and resolving accumulated financial crises." The final goal is to create a professional environment capable of supporting competitive sports and achieving financial and administrative stability for many years, fulfilling the aspirations of Zamalek fans and maintaining the club's status as one of the largest clubs in the region.