10.04.2026 17:40
Istanbul's three giants, Beşiktaş, Fenerbahçe, and Galatasaray, closed the first 9 months of the season with a loss of approximately 5.4 billion lira. Thus, the total debt of the three clubs exceeded 71.5 billion lira.
Beşiktaş, Fenerbahçe, and Galatasaray's publicly traded companies incurred a loss of 5 billion 375 million lira in the first 9 months of the 2025-26 season.
According to information compiled by AA reporter from the financial status and independent auditor reports sent to the Public Disclosure Platform (KAP) by the club companies, all three clubs (companies) spent more than they earned.
The clubs, which reached approximately 43.4 billion lira in revenue, had expenses close to 48.8 billion lira. Thus, the three giants closed the first 9 months of this season, covering the period from June 1, 2025, to February 28, 2026, with a loss of 5 billion 375 million lira.
This loss corresponds to approximately 103.7 million euros at the end of February. The mentioned clubs had incurred a loss of 95 million euros in the same period of the 2024-25 season and ended the season with a loss of approximately 190 million euros.
THE HIGHEST LOSS IS AT FENERBAHÇE
According to the annual and semi-annual reports of independent auditors; when the interest accrued based on the receivables from the club, which could not be collected and was recorded as income, is excluded, Fenerbahçe is the club with the highest loss at 2 billion 581 million lira (49.8 million euros). Although Fenerbahçe reached a total revenue of 13 billion 711 million lira, it spent 19% more than its income with expenses of 16 billion 292 million lira.
Galatasaray's loss during this period was 1 billion 624 million lira (31.3 million euros). The yellow-red club, which reached a total revenue of 17 billion 947 million lira, could not prevent expenses amounting to 19 billion 571 million lira, which corresponds to 9% more than its earnings.
Beşiktaş, on the other hand, spent 12 billion 911 million lira against a revenue of 11 billion 741 million lira. The black-and-white club exceeded its income by 10% and could not escape a loss of 1 billion 170 million lira (22.6 million euros).
THE TOTAL DEBT OF THE THREE GIANTS EXCEEDS 71 BILLION LIRA
The total debts of the companies reached 71.55 billion lira as of February 28, 2026.
In the debt table, where Galatasaray leads with 25.65 billion lira, Fenerbahçe has a debt of 23.9 billion lira, and Beşiktaş has a debt of 22 billion lira. The total debt of 71.55 billion lira corresponds to 1.37 billion euros at the exchange rate.
According to international accounting standards, the net debt is reached by subtracting the "cash and cash equivalents" assets held in the companies' cash and bank from the total liabilities.
Accordingly, Galatasaray has a net debt of 25.61 billion lira, Fenerbahçe has 23.53 billion lira, and Beşiktaş has 21.81 billion lira, totaling 70.99 billion lira (1.36 billion euros) in net debt for the three clubs.