Bounced Checks Threaten the Future of Zamalek Football Club

Zamalek Faces Crisis as Unfunded Checks Shake Financial Stability

A new crisis has erupted against the board of directors of the Egyptian club Zamalek, headed by Hussein Labib, after it issued bounced checks to pay for two transfers from Shams Club. The club announced in an official statement that Zamalek issued bounced checks to pay for the transfers of Youssef Nagi Emil, a handball player, and Taqallah Medhat, a volleyball player, from Shams Club to Zamalek. According to a press release issued by Shams Club, the board of directors, headed by Osama Abu Zeid, decided to take all legal measures due to the failure to pay the last installment of transfer dues. The checks were bounced due to a lack of funds in Zamalek Club’s bank account. The statement also indicated that Shams Club’s legal department has been tasked with filing a lawsuit against Hussein Labib, the club’s president, and Hossam El Mandouh, the club’s treasurer, for signing bounced checks. This move aims to protect the club’s rights from this financial transgression. The unpaid financial dues amount to approximately 1.25 million Egyptian pounds, in addition to the required tax rate of 14% of the value of the two deals, equivalent to 910 thousand Egyptian pounds. The two deals were completed in April of last year for 6.5 million Egyptian pounds. While Zamalek club officials have not issued any official comment on the statement so far, this matter coincides with previous crises facing the club, including the suspension of its players from the first football team due to late financial dues to Moroccan player Khalid Boutaib. Pressure is mounting on the Zamalek administration in light of this financial crisis, which places the club under legal accountability and could affect the team's stability.