Najaf club carries $3.3 million in accumulated debts

Shafaq News- Najaf

Najaf Sports Club is carrying debts worth roughly 3.3 million dollars, its president said on Saturday, as a new administration moves to restructure the club's finances and expand its revenue base.

The bulk of that figure sits with local players. Ammar Najm, president of Najaf Sports Club, told Shafaq News that unpaid dues from last season alone reach 550 million Iraqi dinars, ($417K), on top of older obligations of 3.2 billion dinars, ($2.42M). A further 500,000 dollars is owed to foreign players following disciplinary cases and penalties. Repayment timetables have been set for all three, he said. All dinar conversions are calculated at the Central Bank of Iraq's official rate of 1,320 dinars to the dollar.

Revenue arrives from two directions. The first is the club's old stadium, which houses more than 100 commercial shops and generates rental income alongside a number of other investment projects. The second is a one-million-dollar sponsorship deal with Najaf International Airport, which the administration has ring-fenced for the senior team and will draw down over 10 months. Najm said the club is also courting donors and grant-making bodies.

Reviewing the books, the incoming administration found gaps. It has asked the governor of Najaf to appoint specialized committees to examine several files, chief among them buildings and shops that have stopped paying rent.

Operating costs are being cut to free up cash for repayments. The club has refurbished the players' residential wing, installed modern fittings, and serviced its electrical generators. Najm noted that Najaf fields teams across every age group, not only the senior side, which means equipment, coaching and administrative salaries, match-day expenses, and staff payroll all draw on the same strained budget.

Najaf International Stadium is a separate problem. It needs full maintenance at an estimated 500,000 dollars, Najm said, listing failing electrical, water, camera, and door systems, ground subsidence, and accumulated bird droppings, which he described as one of the most persistent issues facing stadium management.

Najm called on Najaf residents, businesspeople, and supporting institutions to back the club.