“Inside the Finances of Al-Riyadh Club: From a 465 Riyal Treasury Balance to Paying off 6.5 Million Debt”

2023-05-18 01:01:34

Al-Marsad newspaper: The president of the Riyadh club, Bandar Al-Muqil, revealed a surprise regarding the treasury balance and the debts registered on the club during its receipt.

Treasury balance

Al-Muqil said, during his interview with the “Kora” program: I received the club, and its balance in the treasury was 465 riyals, and the debts were 6 million and 500 thousand, according to the financial report.

debt payment

He pointed out: The debts were not paid and a committee was formed by the Minister of Sports to consider the matter following we addressed him.

personal advances

continue; The committee came out with recommendations and sent them to us, and they removed the personal advances, and judgments came to us and we paid them.

Adjudication

He drew: We brought in some creditors, such as the professional players whose right is fixed by a court ruling. They are the ones who cooperated with us the most, and they are 9 players to whom I raise the hat: Ibrahim Faraj, Hamad Al-Qamizi, Zayed Ahmed Al-Zaher, Ahmed Al-Sahbi and others.

He continued: The players agreed to pay the debts according to the 50/50 plan, and the amount was more than 3 million, indicating: The Riyadh club players did not receive salaries for 4 months.

Monthly support

And he concluded: There is direct monthly support from the Ministry of Sports for the right to the second degree, and it was 140 thousand riyals, and the support changed in the following year and was raised to 250 thousand riyals per month.

I received the club and in the treasury 450 riyals.

Bandar Al-Muqil (President of Al-Riyadh Club) talks to Koura regarding the club’s funding sources, and the plan that the administration has worked on to strengthen funding sources and deal with debts @bander_75#Kora_Rotana pic.twitter.com/d61FlAcczQ

– Kora program (@korarotana) May 17, 2023

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