Sports index lost 18 percent in value in the third quarter and shares declined
Shares of sports companies traded on Borsa Istanbul experienced a decline in the third quarter of the year, while Fenerbahçe reached the highest market value.
Publicly traded sports companies on Borsa Istanbul caused losses for investors in the third quarter of the year, with the sports index dropping by 18 percent during this period.
Decline Experienced in the Third Quarter
The sports index fell by 18 percent in the third quarter of the year, disappointing investors. Analysts stated that the clubs' performances in Europe, sponsorship agreements, and league results played a role.
Loss Rates in Shares
Galatasaray shares lost 22.5 percent, Fenerbahçe shares 21.3 percent, Trabzonspor shares 12.1 percent, and Beşiktaş shares 4.8 percent in value.
Market Value Rankings
As of the end of September, Fenerbahçe became the team with the highest market value with 14.6 billion liras. Fenerbahçe was followed by Galatasaray, Beşiktaş, and Trabzonspor.
General Trend Throughout the Year
While sports companies lost 16 percent in value in the first quarter of the year, they achieved a rise and earnings of 5.3 percent in the second quarter.