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Thursday, 28 January 2021

Egyptian business tycoon Sawiris wishes to invest in Ahly Football Company

'I have been an Ahly fan since childhood. An investor must be a fan in the first place,' he said

Mahmoud Sheleib , Wednesday 14 Oct 2020
Views: 1828
Views: 1828

Egyptian businessman Naguib Sawiris revealed his desire to invest in the Ahly Football Company, which is expected to be established soon.

“A law that clearly allows private companies to own clubs must be passed it will be better than the current arrangement. We want our clubs to be on a par with Manchester United and Liverpool," Sawiris told Sports TV Channel ON Time.

"I have been an Ahly fan since childhood and an investor must be a fan in the first place,” he added.

Sawiris goes on explaining that "any club management must have experience in marketing, financing, etc."

Naguib’s younger brother Nassef is chairman of Aston Villa, following the purchase of a controlling stake in the club by NSWE, a company he jointly owns with Wes Edens.

Ahly announced last month that the establishment of Ahly Football Company aims to manage and organize professional football and the work of academies, as well as,  participating  in various events and competitions, whether local, continental or global.

A sports law passed in 2017 allowed sports bodies to establish joint-stock companies and defined how they were established and who owns shares in them.

The law stipulates that companies that are established to practice sports services of all kinds must take the form of joint-stock companies, and these companies may offer their shares for public subscription in accordance with the provisions of the Capital Market Law, and their shares may also be listed on the stock exchange.

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