Financial statements of the four major football clubs traded on Borsa Istanbul announced
While the three-month financial data of the four publicly traded major football clubs were announced, the interest rate on Galatasaray's borrowing drew attention.
The three-month balance sheets covering the June-August period of the four major football clubs traded on Borsa Istanbul were announced to the public. The disclosed financial tables clarified the clubs' total debts, revenues, and borrowing rates.
Financial Balance Sheets of the Clubs
The four major publicly traded clubs on Borsa Istanbul announced their balance sheets for the three-month period between June 31 [sic] and August 31.
According to the disclosed figures, the total debt of the clubs reached the level of 108 billion lira, while the financial debt item, including bank debts, amounted to 7.8 billion lira.
Galatasaray's Borrowing Rate
Galatasaray Sportif AŞ, which had zeroed out its Banks Union debts in the previous period with cash inflows from capital increases and the Florya project, borrowed at a 64 percent interest rate in the three months covering the June-August period.
The fact that approximately 2 billion liras of the 5 billion liras in new financial debt obtained by the club was provided by factoring companies was effective in the emergence of the high interest rate.
Situation of Fenerbahçe and Beşiktaş
While no financial debt appeared in Fenerbahçe's balance sheet, the club's 1.5 billion lira football player sales profit drew attention.
Beşiktaş, on the other hand, announced a loss of 1.1 billion liras in the relevant three-month period and made its borrowings with a 9 percent dollar interest rate.
Revenue and Asset Distribution
The four major football clubs generated a total revenue of 14.3 billion liras during the mentioned three-month period, while incurring 13.7 billion liras in expenses in the same process.
In the ranking of total assets, Galatasaray ranked first with 52.7 billion liras, while Fenerbahçe was second with 39 billion liras.