Al-Masry Sporting Club’s board of directors, led by Captain Hussein Labib, has decided to contest the court order freezing the club’s assets in banks, following a legal dispute involving EGP 988,000.
A club official, speaking to “Al-Youm Al-Sabea,” revealed that Al-Masry intends to submit supporting documents to substantiate its position in the case.
Al-Masry, in compliance with a judgment obtained by a lawyer, had frozen the club’s assets in banks, amounting to EGP 988,000 owed to the previous administration.
The club’s statement read:
“The board of directors of Al-Masry Sporting Club expresses profound regret for the ongoing systematic schemes aiming to destabilize the club’s stability on all fronts within the ‘Green Fortress.’
Despite the burdensome legacy of unprecedented debts inherited by the current board from its predecessor, both domestically and internationally, amounting to figures never seen before, the current board, under the leadership of Kamel Abu Ali, has committed to settling all debts in local and foreign currencies.
This is to prevent the club from facing any sanctions from FIFA or the Court of Arbitration for Sport that could lead the club into a dark tunnel, jeopardizing its stability and causing concerns among the fanbase.”
“Despite the challenges faced by the current board during its seventeen-month tenure, marked by the settlement of tens of millions in accumulated debts inherited from the previous administration, the board was surprised by a judicial ruling to freeze the club’s bank assets in compliance with a lawyer’s entitlement of EGP 988,000 owed to the former council.
It is noteworthy that, upon examining the minutes of the previous council’s meetings, no decisions were found regarding the engagement of the aforementioned lawyer.
The official records did not verify his legal representation of the club in any cases.
This raises doubts about the former club president personally entering into a contract with the lawyer, stipulating that his expenses and salary be paid by the club.
This is an unprecedented and questionable practice.”
“The board expresses deep regret for this action and asset freeze, which threatens the club’s path at this critical time, hindering the board’s ability to fulfill its duties in managing the club effectively.
This may lead to further problems that could shake the club’s stability and add tension within the fan community.”
Al-Masry Sporting Club now faces a legal battle to prove its case and safeguard the club’s financial stability amidst mounting challenges.
