Al Assiouty sold to new owners, to be renamed Al Ahram FC
The club were promoted to the Egyptian Premier League last season and managed to finish in ninth place as well as reaching the Egypt Cup semi-finals.
Mahmoud Al Assiouty has revealed that they agreed to sell the football club only, not the resort, meaning that the hotels and the football stadium will still be owned by Al Assiouty.
Turki Al-Sheikh first entered the scene of Egyptian football after becoming Al Ahly’s honorary president after Mahmoud El-Khatib “Bibo” was elected President.
However, the relationship between the board and Al-Sheikh quickly deteriorated as the Saudi resigned from his position. Meanwhile, Zamalek President Mortada Mansour also appointed Al-Sheikh as the White Knights’ honorary president, but Al-Sheikh declined.
Al-Sheikh has returned to Egypt to fund Al Assiouty, who were promoted back to the top division at the end of the 2016/2017 season. The club shocked Al Ahly last season in the Egypt Cup, knocking out the holders with a 1-0 win in the quarterfinal.
They have already been linked with a number of big signings, including Egypt international Mohamed Magdy Afsha, Al Masry fullback Mohamed Hamdy, and Ismaily defender Mahmoud Metwally.
The funding will not be Al-Sheikh’s first venture this season after helping fund many signings for teams in the Saudi Professional League.
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