Khaled Al-Baltan and Fahd Al-Mutawa, presidents of Al-Shabab and Al-Raed, and their boards of directors, despite the end of their four-year term, continue until the general assemblies are held, but without signing any official documents.
Ibtihal Al-Sayer, Director General of Clubs Affairs at the Ministry of Sports and Chairman of the General Elections Committee, told Al-Riyadiah, that the clubs whose board terms have expired, such as Al-Shabab, Al-Raed and Al-Wahda, are run by CEOs.
Al-Sayer said, “Elections will be opened in the coming days for the presidency of these clubs for a period of 4 years, according to the articles of association of the clubs, and it differs from the practice in the clubs that were acquired by the investment fund.”
And she added, “The boards of those clubs continue during these days, but the one concerned with signing the official papers and running things is the chief executive, until a new board is elected according to the general assembly.”
And with the Ministry’s announcement last month of the investment and privatization project, it updated the basic regulations for sports clubs, and issued two more for the four clubs that the fund acquired, and some of its provisions differ slightly, as the voting power in clubs is calculated at 1,000 riyals for one vote, while it was 100 riyals for non-club institutions. Al-Hilal, Al-Nasr, Al-Ahly and Al-Ittihad profitability.
2023-07-03 21:57:00
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