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Ismaily on the verge of bankruptcy

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Posted on May 30, 2014

Ismaily
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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