Zamalek debts nearing $7m, says president Hussein Labib

Zamalek president Hussein Labib says the club’s board has contributed to debts approaching $7m.

“We have caused a lot of debt for Zamalek, and it is nearing $6-7m,” Labib told ON Sport.

Labib said the club’s financial position was already in serious difficulty when his board took charge, with debts exceeding two billion Egyptian pounds. He added that almost one billion Egyptian pounds had since been paid.

“When we entered Zamalek, its financial situation was very bad and its debts exceeded two billion Egyptian pounds,” he said. “We paid almost one billion Egyptian pounds. Zamalek’s financial situation has been poor throughout most of its history, so we want to create continuity and sustainability for the next board.”

He pointed to an agreement with Bezera as one factor behind the club’s financial problems. Zamalek had agreed the value of the deal while relying on revenue from land in October, but the withdrawal of that land made the situation more difficult.

“Part of what caused the debts was, for example, our agreement with Bezera over the value of the deal and the revenue we were relying on from the land in October,” Labib said. “But after it was withdrawn, everything became difficult.”

The president also revealed that Zamalek had not yet received approval to obtain a plot of land in the Fifth Settlement.

On the team’s preparations, Labib said coach Moataz Gamal preferred to train away from the club rather than return to the Helmy Zamora training ground.

“Returning to training at Helmy Zamora? Moataz Gamal prefers training outside the club, and that is his decision,” he said.

Labib described Zamalek’s group in Africa as “extremely difficult” but insisted he believed the club could reach the final.

He also rejected suggestions that he had tried to sign a player from Al Ahly in response to Zamalek’s deal involving Zizo.

“No, I did not try to sign any player from Al Ahly in response to the Zizo deal,” Labib said. “The only thing I am thinking about is Zamalek’s interests.”

He added: “I do not want to repeat the experience of signing any player from Al Ahly because we have seen that Al Ahly players have not been successful at Zamalek.”

Labib said the squad needed reinforcements in midfield and on the wings, alongside a change in playing style.

Mamdouh Abbas, the former Zamalek president, had not intervened in the board’s decisions, Labib said. The two discussed matters “like any Zamalek supporter”, but Abbas did not impose any decision.

“He donated large sums of money, and they are not debts owed by the club. We thank him for that,” Labib said.

Labib became Zamalek president in October 2023 after receiving 15,229 votes, the second-highest total among the candidates.