07.03.2025 22:30
The publicly traded companies of Turkey's four major football clubs, Beşiktaş, Fenerbahçe, Galatasaray, and Trabzonspor, incurred a loss of 2.58 billion lira (70.5 million euros) in the first six months of the 2024-2025 season. The highest loss belongs to the burgundy-blues, with 969.9 million lira (26.5 million euros).
Beşiktaş, Fenerbahçe, Galatasaray, and Trabzonspor, according to the financial situation and independent auditor reports sent to the Public Disclosure Platform (KAP), were unable to achieve a balance between income and expenses, just like in previous years, and incurred losses. The total losses of the four big clubs are staggering.
TOTAL LOSSES 2.58 BILLION LIRA
Although Beşiktaş, Fenerbahçe, Galatasaray, and Trabzonspor announced that they made a profit in the first monthly period between June 1, 2024, and November 30, 2024, according to independent auditor reports, all four clubs closed the period between June 1, 2024, and November 30, 2024, with losses. The total loss of 2.58 billion lira corresponds to 70.5 million euros at the current exchange rate.
The four major clubs; Galatasaray Sportif Sınai ve Ticari Yatırımlar AŞ, Fenerbahçe Futbol AŞ, Beşiktaş Futbol Yatırımları Sanayi ve Ticaret AŞ, and Trabzonspor Sportif Yatırım ve Futbol İşletmeciliği Ticaret AŞ are traded on the stock exchange.
These companies are in a connected position with the clubs' associations (which gained the identity of a sports club with the new law) and/or other companies (GS Store, Fenerium, Kartal Yuvası, TS Club, FB TV, GS TV, etc.). The mentioned associations and companies appear in financial statements under the name "related parties."
The publicly traded companies are constantly in a creditor position with respect to these related parties, and interest is also accrued on these receivables. For example, the X company traded on the stock exchange of club A states that it has a non-commercial receivable of Y from related parties while presenting its economic reports and that interest of Z has been accrued on this receivable, and this interest is recorded in the company's income statement.
INDEPENDENT AUDITOR REPORTS
The independent auditor reports have been clearly stating the situation for many years as follows;
"The Group has a non-commercial receivable of Y from related parties, and there is no specific maturity for this receivable. The Group has recorded interest income of Z for this receivable; however, no collection has been made regarding these receivables. As of the report date, due to uncertainties in maturity and form, no opinion could be formed regarding the collection of the mentioned receivables." In other words, there is no collection of the "interest income from related parties" recorded in the companies' income statements, and there is no positive opinion regarding its realization.
THE MOST LOSSES IN TRABZONSPOR
According to the auditors' reports, when we exclude the interest that is recorded as income but has not been collected, Trabzonspor is the club with the highest loss at 969.9 million lira (26.5 million euros). Beşiktaş follows with a loss of 757.5 million lira (20.6 million euros). During the period when Galatasaray closed with a loss of 490.5 million lira (13.4 million euros), Fenerbahçe also could not avoid a loss of 365.6 million lira (9.9 million euros).
INTERIM TRANSFER PERIOD NOT INCLUDED
The income/expense table of the four clubs for the period between June 1, 2024, and November 30, 2024, which does not include the costs of the interim transfer, is as follows;