The Board of Directors of Zamalek Club, headed by Hussein Labib, issued an official statement on Friday evening to clarify developments in the football company file at the White Castle and the validity of reports about retreating from its establishment.
Zamalek's board confirmed that there is no basis in truth for what has circulated in the past hours regarding retreating from establishing the football company or halting work on it, stressing that what is being circulated in this regard is completely devoid of truth.
He pointed out that Hussein Labib has not taken any decision to stop work on completing the procedures for establishing the football company.
Zamalek stressed that it had previously taken, about two weeks ago, an official decision to establish the football company, after the approval of the majority of the board members, and it is a final decision with no direction to retreat from it.
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He explained that the Board of Directors is currently studying the offers submitted by a number of investors to choose the best offer that serves the interest of Zamalek Club and ensures the success of the football company and the achievement of its desired goals in the coming period.
He concluded that after completing the study of all offers and reaching a final agreement with the investors, the matter will be presented to the General Assembly of Zamalek Club, as it holds the original right to approve the investors' shares in the football company and its operating mechanisms, in accordance with the legal procedures and regulations governing the establishment of football companies.
