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Turki Al-Sheikh may sell Pyramids FC to GCC investor

Turki Al-Sheikh may sell Pyramids FC to GCC investor

Cairo – Mubasher: Saudi investment mogul Turki Al-Sheikh said that he received “an attractive offer” from a GCC investor to purchase Egypt-based Pyramids Football Club.

“I will meet the investor on Tuesday, 8 January” to discuss the possibility of implementing the transaction, Al-Sheikh, the head of the kingdom's General Authority for Entertainment (GEA), said in a phone interview with El Hekaya talk show programme aired on TV network MBC Egypt.

Al-Sheikh further noted that he had received the offer since a long time, but he postponed its discussion until Pyramids played its match in the Egyptian Premier League against Al Ahly Football Club.

On Friday, 4 January, Pyramids Football Club beat Al Ahly 2/1.

In December 2018, Al-Sheikh revealed plans to start investment in Egypt’s recreational sector after being appointed as a new chairman for the Saudi GEA.

When he was the chairman of the Saudi General Sport Authority’s (GSA), Al-Sheikh met in October with several local banks to discuss the establishment of four football stadiums for Saudi clubs.

In September 2018, Pyramids Football Club announced that the club's owner, Turki Al-Sheikh, had officially withdrawn investment in the Egyptian sports sector due to the unjustified attack on him from local media.

Al-Sheikh asked the Saudi Telecom Company (STC) in August 2018 to unveil in a press conference the means of broadcasting the Saudi Professional League (SPL).