Turki Al-Sheikh sells Pyramids FC to Salem Saeed Al-Shamsi
Egyptian Premier League outfit Pyramids FC has been sold to Emirati investor Salem Saeed Al-Shamsi after a long spell of tensions with Ahly fans and management.
“The club’s ownership has been transferred to the UAE’s investor Mr. Salem Saeed Al-Shamsi, as have all the club’s investments that belonged to the club’s former owner Turki Al-Sheikh in Egypt,” read a statement by Pyramids FC released on Friday.
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— Pyramids FC (@pyramidsfc) February 22, 2019
“The former owner of Pyramids FC wishes Mr. Salem Al-Shamsi the best of luck in achieving his target,” the statement added.
It’s not the first time Al-Sheikh, the current chairman of the General Entertainment Authority in Saudi Arabia, has announced that he has given up his sports investments in Egypt; last September he said he had made the same decision, but changed his mind soon after.
Al-Sheikh initially appeared on the Egyptian sports scene as a hardcore fan and financial backer of Egypt’s Ahly, and was named honorary president of the Cairo giants in December 2017.
Just five months after receiving the honorary title, the 37-year-old stepped down from the post after a harsh dispute with the club management.
The relationship between Al-Sheikh and Ahly fans became tense when he went on to buy Al-Assiouty Sport last summer and transform it into new club Pyramids, in an unprecedented move.
Al-Sheikh was mocked by thousands of Ahly fans during the club’s 4-0 win over Guinea’s Horoya AC in the quarterfinal of the CAF Champions League at El-Salam Stadium in September last year.
The angry fans charged that Al-Sheikh was responsible for the recent conflict between their club and the Saudi football association over the timing of a Saudi-Egyptian super cup match.
For his part, Al-Sheikh opened the fire on Ahly’s management, asking them to announce how they had spent funds he had paid to them to support the team since he was named the club’s honorary president.
Ahly’s management asked the Egyptian authorities to investigate the accusations made by Al-Sheikh, and authorities investigated and concluded that the club had worked within the law.