Third-Quarter Performances of Sports Companies Traded on Borsa Istanbul
While shares of sports companies traded on Borsa Istanbul declined in the third quarter of the year, Galatasaray experienced the highest loss in value and the index dropped by 18 percent.
Shares of sports companies traded on Borsa Istanbul caused losses for investors in the third quarter of the year, with the sports index declining by 18 percent.
Sports Index Declined in the Third Quarter
Shares of sports companies traded on Borsa Istanbul caused losses for investors in the third quarter of the year. During this period, the overall sports index recorded a decline of 18 percent.
Galatasaray Was the Team That Lost the Most
The company that caused the highest loss for its investors was Galatasaray Sportif Sınai ve Ticari Yatırımları, with its shares losing 22.5 percent in value during this period.
Third-Quarter Losses of Other Clubs
Galatasaray was followed by Fenerbahçe Futbol AŞ with a 21.3 percent drop. Trabzonspor Sportif Yatırım ve Futbol İşletmeciliği shares declined by 12.1 percent, while the loss in Beşiktaş shares was 4.8 percent.
Factors Affecting Share Performance
Analysts pointed out that results in European cups, sponsorship agreements, and successes achieved in the Süper Lig played a significant role in the share performance of sports companies.
Different Picture in the First Two Quarters of the Year
The sports index fell by 16 percent in the first quarter of the year, while rising by 5.3 percent in the second quarter. In the first quarter, shares of Fenerbahçe, Trabzonspor, Beşiktaş, and Galatasaray lost value, whereas Beşiktaş and Fenerbahçe rose in the second quarter.
Market Values as of September
Among the 4 sports companies traded on Borsa Istanbul, Fenerbahçe became the club with the highest market value. Fenerbahçe finished September with a market value of 14.6 billion liras, while Galatasaray reached 10.7 billion liras, Beşiktaş 6.9 billion liras, and Trabzonspor 6 billion liras.