UAE’s investment company ADQ signed a multi-year sponsorship agreement with Egyptian club Pyramids FC, according to a statement on Thursday.
As part of the agreement, ADQ will support Pyramids FC’s youth development and community programs, the company added in the statement.
The statement did not specify the length of the contract.
Since rebranding in 2018, Pyramids, owned now by Emirati businessman Salem Al-Shamsi, have become a high-performance club in Egypt’s top league.
ADQ says the sponsorship reinforces its commitment as a long-term investor in Egypt, complementing earlier initiatives through portfolio companies that benefit local communities and the economy.
The deal adds more projects to ADQ’s existing social projects in Egypt, including their already established disability support centre run by the Egyptian government; it provides another avenue to engage locally through sport and shared community values, the firm said.
Pyramids FC’s partnership aims to contribute resources and expertise for aspiring young athletes through the club’s youth academy and junior development programs.
“Through this sponsorship, we hope to leverage the universal appeal of football to convey our passion for excellence, our belief in the importance of partnerships as well as our dedication to fostering the health and well-being of local communities,” said Anas Jawdat Albarguthi, chief operating officer at ADQ.
“Our partnership with ADQ is a testament to our commitment to fostering football excellence across all facets of our team. This multi-year sponsorship agreement signifies the beginning of a journey that will help propel the club toward greater success, enabling us to realize the long-term goals and ambitions we have set for Pyramids FC,” stated Mamdouh Eid, CEO of Pyramids FC.
