Wednesday 24 May 2017 - 10:00 am

Tue 16-05-2017 18:58 PM

Dubai Ruler orders the merger of three sports clubs

DUBAI, 16th May 2017 (WAM) -- Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has ordered the merger of Al Shabab Al Arabi Club, Dubai Sports and Cultural Club, and Al Ahli Sporting Club into a single entity called Shabab Al Ahli Dubai Club.

Crown Prince of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum was named as Chairman of the entity, while Deputy Ruler of Dubai HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum was named as its Vice Chairman, and Chairman of Mohammed bin Rashid Al Maktoum Knowledge Foundation H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum as the second Vice Chairman.

On this occasion, H.H. Sheikh Mohammed said that the move is aimed at developing a club that can compete well regionally and globally.

As part of the new decision, the assets, properties and financial resources allocated to the three teams by the Government of Dubai will be transferred to the new entity. The headquarters of the new club will be located at the Dubai Sports and Cultural Club. Facilities and stadiums belonging to the new club will be revamped to meet international standards to ensure their readiness to host training sessions and competitions.

A supreme committee has been formed to oversee the merger under the Chairmanship of Director General of the Department of Protocol and Hospitality in Dubai Khalifa Saeed Suleiman. Members of the Committee include Director General of the Department of Finance of the Government of Dubai Sami Al Qamzi; Ahmed bin Humaidan; and Abdullatif Al Sayegh. The committee reports to the Chairman of the newly formed Club, and is tasked with selecting its executive teams and outlining the scope of work of each team.

The Committee will also take all regulatory and legal actions necessary to preserve the rights and secure the investments of the three clubs, and to transfer it to Shabab Al Ahli Dubai Club.

According to the decision, all assets and investments of the three clubs will be managed by an asset management and investment company formed under the leadership of Hisham Abdulla Al Qassim.

 

WAM/Mahmoud