Sawiris is based in London though, and I'd be surprised if he holds much of his free cash in a relatively volatile spot like Egypt.
I have about $700k stuck in Egypt that I have been slowly getting in £10k chunks. My customer has the money in the bank in Egyptian pounds, but the central bank is restricting access to US dollars, Euros and Sterling so the bank can't pay me. This is a serious issue for anyone exporting to Egypt at the moment, the docks are full of stuck containers pending dollar availability.
Quote from: ASHTONVILLA on February 01, 2023, 03:54:47 PMI have about $700k stuck in Egypt that I have been slowly getting in £10k chunks. My customer has the money in the bank in Egyptian pounds, but the central bank is restricting access to US dollars, Euros and Sterling so the bank can't pay me. This is a serious issue for anyone exporting to Egypt at the moment, the docks are full of stuck containers pending dollar availability.If you would like to e-mail me I will get it for you through Western Union. Indeed, I've just completed a similar transaction with an ailing Nigerian gentlemen. Funnily enough, I had to send €5000 to cover the administration fees. But he says the $5m is on its way so all's good.
Quote from: Risso on February 01, 2023, 03:29:18 PMSawiris is based in London though, and I'd be surprised if he holds much of his free cash in a relatively volatile spot like Egypt.No I doubt it too, it's more the ability to move new cash from his business interests that I think may be a temporary issue. I have about $700k stuck in Egypt that I have been slowly getting in £10k chunks. My customer has the money in the bank in Egyptian pounds, but the central bank is restricting access to US dollars, Euros and Sterling so the bank can't pay me. This is a serious issue for anyone exporting to Egypt at the moment, the docks are full of stuck containers pending dollar availability.It is not like he is in the service industry, he has physical manufacturing there.As said I doubt he is skint, but I would be very surprised if he hasn't been hit with a few issues. The farming industry is in chaos there at the moment.
Quote from: ASHTONVILLA on February 01, 2023, 03:54:47 PMQuote from: Risso on February 01, 2023, 03:29:18 PMSawiris is based in London though, and I'd be surprised if he holds much of his free cash in a relatively volatile spot like Egypt.No I doubt it too, it's more the ability to move new cash from his business interests that I think may be a temporary issue. I have about $700k stuck in Egypt that I have been slowly getting in £10k chunks. My customer has the money in the bank in Egyptian pounds, but the central bank is restricting access to US dollars, Euros and Sterling so the bank can't pay me. This is a serious issue for anyone exporting to Egypt at the moment, the docks are full of stuck containers pending dollar availability.It is not like he is in the service industry, he has physical manufacturing there.As said I doubt he is skint, but I would be very surprised if he hasn't been hit with a few issues. The farming industry is in chaos there at the moment. I dread to think what your demurrage fees are like at the port !!
I don’t think there’s been any deviation from what the owners said when they arrived. Invest in the youth set up, invest initially in the first team and then let the club be self sustainable.It’s a plan I agreed with at the time and ethically I agree with it now. The only issue is that the PL spending has become ridiculous with every club having the financial power to spend more than most clubs in Europe.Then you’ve got the sky 6 which is now a 7 with the arrival of their new club Newcastle and it’s becoming virtually impossible to challenge on a regular basis. FFP added then it’s become even harder and if clubs are allowed to negotiate their own TV deals in the future then wave goodbye to the “best league in the world.” It’ll become even more of a monopoly than it is now.It’s becoming a run away train and those of us old enough to remember 1992 would tell you this was predictable.Running the club as our owners want is the only way and hopefully when this money bubble bursts we’ll be in a good position and won’t go bust.I’ve been taken in by it at times and gave myself a slap last night at being upset by not getting a forward in. I’m grateful to them for saving us and still think they are the best owners we’ve had for a long, long time.
I remember people saying Man City's owners were going to get bored pretty quickly.I also remember Mazrim arguing they "weren't that rich anyway".Clubs aren't going to go bust, the likes of Boehly might be nuts, but he's not stupid.*wink*