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Ismaily on the verge of bankruptcy

Posted on May 30, 2014

Ismaily are facing an international crisis, after losing law cases to FIFA over unpaid transfer fees.

The Dervishes reportedly need at least 3 milion EGP ($420,000) to pay off the debt to players, agents, and clubs.

According to El-Shrouk, The Court of Arbitration for Sport (CAS) ruled in favour of Ghanian club Dreams and Ismaily are obliged to pay them $150,000 (1 million EGP) which are John Antwi’s unpaid transfer fees.

The club also have to pay $80,000 (580,000 EGP) to ex-player John Obrai’s agent and an addition $65,000 (465,000 EGP) to Jordanian goalkeeper Amer Shafie.

Other rulings include unpaid wages to former players Arko and Godwin.

It is also worth mentioning that current Ismaily president Mahmoud Abo-El-Soud has decided to pay Dreams the $150,000 because the transfer occurred during his reign, but has made it clear that he seeks help from the government, businessmen, and former Ismaily presidents.


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