Maged Samy has left second divison Belgian side Lierse
After losing their case in the Belgian Court of Arbitration for Sport, Egyptian businessman Maged Samy has decided to leave the second division club Lierse and they are now expected to go bankrupt.
The club is currently under debt, and with no investors to support the club. The former four times league champions and two times Cup winners will now either start over as an amateur team or will cease to exist.
CEO Jan Van Elst was hoping the court would accept postponing the trail for a second time but they have unfortunately refused.
Lierse, which was one of the six Belgian clubs to have played in the UEFA Champions League group stage, have canceled their training session on Monday May 7 after the court decision.
A disagreement on terms for a possible acquisition between Samy and David Nakhid, seems like the last nail in the club’s coffin.
According to Wadi Degla’s lawyer (another club owned by Maged Samy): “Nakhid did not fulfill contractual obligations,” and therefore there were no enough documentations to keep Lierse playing professionally in the coming season.
Meanwhile Samy is currently focused on the newest club he bought – Greek second division outfits Ergotelis- which gained promotion to the second division last year after winning the third tier [Gamma Ethniki].
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