Banque Misr has been awarded to provide the banking sponsorship for El Ahly Sporting Club for further ten years through its Al Gazeera and Nasr City branches, the club announced on Saturday.
This comes after El Ahly Club had launched an auction concluded last Thursday afternoon.
After opening the financial envelopes, Banque Misr was shown to provide an offer worth EGP 56 million, higher than its sole rival, the Commercial International Bank of Egypt – CIB which offered EGP 55.5 million only.
As pursuant to Banque Misr’s offer, El Ahly Club would receive an EGP 42 million advance in cash.
El Ahly Sporting Club, headed by Mahmoud Taher and its Marketing Committee management represented in Emad Waheed, had determined EGP 50 million as minimum sum for the auction.