Zamalek will not sell club assets to reduce debt, says treasurer

Zamalek treasurer Hossam El-Mandouh has ruled out selling any part of the Egyptian club’s property to help reduce its debts, saying the board could instead explore commercial arrangements such as leasing shops or exchanging liabilities for active memberships.

El-Mandouh clarified comments he had previously made about replacing some of Zamalek’s assets as part of efforts to improve the club’s financial position. Speaking to On E, he said the proposals involved using commercial rights rather than disposing of the club’s property.

“When I spoke about replacing some of the club’s assets in order to reduce the debts, I meant the possibility of renting some commercial shops or exchanging debts for active memberships. That means reducing the debts through commercial rights, but not through selling, because as a board of directors we cannot sell even one metre of the club’s property, and the law does not allow us to do so,” he said.

The comments come as Zamalek continue their domestic campaign and prepare for their next match in the CAF Champions League.

Zamalek beat Abu Qair Fertilizers 2-0 at Cairo Stadium on Tuesday in the fourth round of the Egyptian Premier League. Mohamed Ismail and Ahmed Sherif scored the goals in the victory.

The result means Zamalek have recorded three wins and one draw from their opening four league matches of the current season. The club’s latest success followed a match in which they remained unbeaten while maintaining their strong early start to the domestic campaign.

Zamalek’s immediate focus now turns to the second leg of their first preliminary round tie against Port Djibouti in the CAF Champions League.

They take a 2-1 advantage into the return match after winning the first leg by that scoreline. The tie will determine whether Zamalek progress beyond the opening stage of the competition.

El-Mandouh’s statement makes clear that the club’s plans for addressing its debts will not include the sale of land or other property. Instead, Zamalek could seek to generate value from existing commercial opportunities, including the possible rental of shops, or by using active memberships as part of arrangements to reduce outstanding debts.

He also stressed that the board is not authorised to sell club property, stating that such a move would not be permitted under Egyptian law. The treasurer’s comments therefore draw a distinction between making use of commercial rights and permanently transferring ownership of Zamalek’s assets.

The statement provides the club’s position on the financial measures under consideration, while Zamalek continue competing on both the domestic and continental fronts.