Al-Masry Sporting Club announced today the freezing of its bank accounts at present due to a judicial ruling granting one of the lawyers his overdue dues.
Al-Masry currently holds the seventh position in the Egyptian Premier League table, amassing 16 points.
The official Facebook page of Al-Masry Club posted: “The Board of Directors of Al-Masry Club expresses profound regret for the continued systematic schemes aimed at destabilizing the stability the club has been experiencing on all levels within the green fortress since the administration took charge at the end of August 2022.”
Continuing, it stated: “Despite the heavy burden and the immense legacy of debts inherited by the current board from its predecessor to various entities inside and outside Egypt, reaching unprecedented figures ever recorded, the current board, under the leadership of Mr. Kamel Abu Ali, took upon itself to settle all debts, whether in the local currency or hard currencies, to prevent the club from facing any penalties from FIFA or the International Court of Arbitration that would lead the club into a dark tunnel, threatening its stability and causing concern among the fan base.”
Furthermore, it added: “Despite all the challenges faced by the current board during its term, which did not exceed seventeen months, where tens of millions of pounds of accumulated debts from the previous board were paid, the board was surprised by the issuance of a judicial ruling to freeze the club’s funds in banks in compliance with a ruling that had been issued to one of the lawyers, totaling EGP 988,000, by the previous board.”
The statement clarified: “Upon reviewing the minutes of meetings of the previous board, the club’s management found no resolutions to contract with the aforementioned lawyer, and through official documents, there is no evidence of his legal representation of the club in any of the cases.
This fact leaves no room for doubt that the former club president unilaterally signed a personal contract with the lawyer, stipulating that his expenses and salary be covered by the club, an unprecedented occurrence.”
The statement concluded: “The Board of Directors expresses deep regret for this action and the freezing of the club’s funds in banks in a manner that threatens the club’s progress at this critical time.
It hinders the board from fulfilling its mandated role in managing the club properly.
Such actions may lead to further problems that could destabilize the club and add considerable tension among the fan base.”
