"I have a good relationship with Basri and that's why I prefer to join Ittihad," said the former Ahli and Zamalek keeper.
Al-Sayed had a previous spell at Ittihad in 2003 before joining Masri a season later and then he made a big move to Ahli in 2005.
The 36-year old keeper has been out of action since the beginning of the year as he has been released by ENPPI in January.
"That isn't a problem as I have been training consistently. I could have missed games for injury or anything else.
"As a keeper I'm not that old, look at Edwin Van Der Saar, 37, who is excelling with Holland," added Al-Sayed.
The former Egypt number 1 admitted that he and Ittihad haven't reached a final agreement yet.
But he stressed that he is looking forward to resume his career and nothing will tackle that.
If the deal is to be completed, Al-Sayed will be the fourth keeper in Ittihad's squad that already includes Samir Ashour, Al-Hani Soliman and Emad Fathi.