Zamalek official denies suggesting club assets would be sold

Zamalek treasurer Hossam El-Mandouh has insisted the Egyptian club has no plans to sell its assets after comments he made about reducing debt sparked speculation.

Speaking to ON TV, El-Mandouh said his earlier remarks had been misinterpreted, stressing that he was discussing investment mechanisms rather than the sale of club property.

“I hope the sports media will refrain from publishing statements without verifying their meaning and content,” he said. “I was talking about ways to reduce the club’s debt, and one of those mechanisms is making better use of some assets.”

He explained that the proposal involved generating income through rentals and memberships rather than selling property outright.

Using the Zamalek Club complex as an example, El-Mandouh said the club owns numerous commercial units that can be leased to raise revenue, adding that ownership would remain with the club.

“We cannot sell even a quarter of a metre of Zamalek’s land, and the law does not allow us to do so,” he said.

El-Mandouh suggested that some debts could potentially be offset through rental agreements on one or more properties or by offering active club memberships as part of investment arrangements.

He added that Zamalek is examining ways to reduce spending and increase revenue as it seeks additional funds during the current period.

“This is simply a mechanism, not a proposal,” he said. “We have dealt with it before, and other institutions can use similar approaches.”