El Khatib: Vodafone investment deal is historic, stadium dream closer to reality
Al Ahly president Mahmoud El Khatib said the club's strategic partnership with Vodafone marks a historic milestone, adding that the agreement brings supporters' long-held dream of a world-class stadium closer to becoming reality.
El Khatib made the remarks during a ceremony held at the Giza Pyramids on Monday, attended by Al Ahly's board of directors, Youth and Sports Minister Gohar Nabil, several cabinet ministers, Red Castle Company chairman Mohamed Kamel and officials from Al Ahly Football Company.
During the event, Al Ahly signed the largest sports investment agreement in the Middle East, granting Vodafone the naming rights to the club's new stadium and concluding a new sponsorship deal. He praised the Egyptian government's support for infrastructure and sports projects under President Abdel-Fattah El-Sisi, saying such backing had helped bring the club's stadium project closer to completion.
El Khatib said discussions with Vodafone began while he was undergoing medical treatment earlier this year, after receiving an initial proposal from the company.
This was followed by a series of meetings involving Al Ahly Football Company and the club's commercial rights team before the parties reached the biggest investment agreement in the club's history.
He said the contract includes an innovative financial mechanism designed to protect Al Ahly's interests by fixing the agreement's value while ensuring the club benefits from any increase in the exchange rate, with payments made in Egyptian pounds.
El Khatib added that Vodafone's acquisition of the stadium naming rights would provide significant financial support for the project, expressing confidence that Red Castle Company, led by Mohamed Kamel, would complete the stadium on schedule despite engineering and technical challenges that had already been overcome.
He also revealed that he had requested changes to the stadium design, including replacing concrete staircases with escalators to meet the latest international standards and improve the matchday experience for supporters.
El Khatib thanked Vodafone, Red Castle Company, Al Ahly Football Company and all those involved in finalising the agreement.
He also praised the club's board of directors and executive management for their dedication, thanking them for their support during the health issues he has faced since last September and for ensuring the club's work continued smoothly in his absence.
