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The committee in charge of the management of the Zamalek club revealed the financial situation of Al-Abyad, after assuming the leadership after the previous board of directors was arrested due to financial and administrative violations.
The Ministry of Youth and Sports had issued a decision to suspend the Zamalek Board of Directors until the Prosecutor’s Office investigated the financial and administrative infractions contained in the report of the Inspection and Inspection Commission.
And the Judicial Committee in charge of managing the affairs of Zamalek, headed by Councilor Ahmed Al-Bakri, issued a report on the financial situation of the club until November 30, which is the report issued by the financial department of Al -Abyad.
According to Zamalek’s financial statement, the club owes nearly 1.5 billion pounds to government agencies to the Tax and Social Security Authority, and an amount of 150 million pounds is allocated for case debts and 35 million pounds to the Football Association.
The statement of financial position revealed that the unpaid advances for the prior fiscal year were £ 53 million and £ 20 million for the current year ending at the end of this month.
The statement of financial position indicated that the amount of debts owed by Zamalek, which must be collected from the tenants of the 20 stores, approximately 21 million pounds, and that the balances available before this date are approximately 5,416,000 pounds .
The statement revealed that when the Judicial Commission received the club, the amount in the club’s treasury was one million two hundred and fifty thousand pounds, while the commission said that monitoring the financial situation of the books and the inventory conditions yielded a a financial deficit of 1,200,000 pounds, and the matter was referred to legal matters.
During the last period, the committee also managed to collect an amount of 10 million pounds from the sponsoring company, in addition to 3 million and 500 thousand pounds for income and affiliations.
The statement revealed that the estimated budget for spending on sports activity, which the club needs, is 500 million pounds, of which 60 million pounds are required to be available this week to pay the rest of the contracts of the players from last season, as well as advances on player contracts and the rest of the other games.
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