Who is the leader in the big three finance league?

With the new sports law, the rules in sports clubs have changed. With the new sports law enacted in April 2022, matters such as the financial performance of a sports club, balanced budget, spending limits have become much more important. The new sports law continues to be shaped with its sub-legislations, with 4 regulations coming out towards the end of the year.

KPMG Turkey shared the remarkable figures and issues with the public based on the 6-month financial statements and audit reports for the period of 1 June – 30 November 2022, published on the Public Disclosure Platform (KAP) of sports clubs open to the public in our country.

KPMG Turkey Director Bora Hakim said in a statement, “Besiktas, Fenerbahçe and Galatasaray, our public football clubs subject to the Capital Markets Board (SPK), announced their first 6-month financial statements covering the 2022 and 2023 seasons on the Public Disclosure Platform.

Although the performances of these clubs on the field in the 2022 – 2023 season are going well, their financial performance that will determine their future will always be on their agenda.

According to the shared results, Fenerbahce was the leader in both income and revenue and debt, while Beşiktaş took the lead in negative equity. According to the announced financial statements of Beşiktaş, Fenerbahçe and Galatasaray, another point that attracts the most attention is the part of the balance sheets, which is kept in the resources (liability) part of the balance sheets and is seen as debt.

It is possible to clearly see the results and effects of the restructuring agreements of the Big 3 with the consortiums of the banks’ associations in the financial statements and reports.

The restructuring agreements between the banks union consortium and sports clubs had a positive impact on the financial statements of these sports clubs, while contributing to their cash flow. The main problem in the three big football clubs was the negative picture of the lack of continuity in income and the inability to generate sufficient income.

This football season is a very important season in terms of financial and sportive success. Looking at the financial statement data disclosed in the Public Disclosure Platform, the most important factor stands out as the creation of stable and significantly increasing income and revenue items for all sports clubs.

The revenues to be obtained from the league championships that can be obtained with sports success and the sports successes that can be obtained in European cups will cause sports clubs to increase both in revenue and income items and generate income through new sponsorship agreements, which will directly reflect positively on the financial statements. said.

According to the evaluation made by KPMG Turkey based on the financial statements and audit reports, the 6-month financial performances of the three big football clubs in the Turkish Spor Toto Super League were as follows:

Fenerbahçe is the club with the highest revenue and sales revenue.

The club with the highest revenue and sales revenue is Fenerbahçe A.Ş. with approximately 1.036 million TL. While Beşiktaş A.Ş was the second with 659 million TL, Galatasaray A.Ş. and took the third place with 592 million TL. Fenerbahce A.S. announced a gross profit of approximately 261 million TL for this period, while Galatasaray A.Ş. 254 million TL, Beşiktaş A.Ş. announced a period loss of 72 million TL.

Fenerbahçe club is the most indebted club

According to the financial statements announced, the club with the highest net financial debts is Fenerbahçe A.Ş. as notable. The debt situation of Beşiktaş, Fenerbahçe and Galatasaray as of 30 November 2022 was as follows: Fenerbahçe A.Ş. Beşiktaş A.Ş. is in the first place with 3,570 million TL. 3.231 million TL second Galatasaray A.Ş. and took the third place with 2,648 million TL.

Equities give negative balance for all three big clubs

The “debt in debt” warning stated in the opinion section of the reports about the three big sports clubs Beşiktaş, Fenerbahçe and Galatasaray draws attention. Equities included in the liabilities part of the balance sheets give negative balance in all three clubs. According to the financial statements; The total equity capital of Beşiktaş A.Ş. was -2.485 million TL, Galatasaray A.Ş. -1.390 million TL, Fenerbahçe A.Ş. -1.045 million TL. On the equity side, the highest negative capital belongs to Beşiktaş A.Ş. Beşiktaş faced an equity minus approximately equal to the sum of the negative equity of Fenerbahçe and Galatasaray. However, the financial statements also indicate that all clubs have gone from profit to loss. When the operating losses are compared with the previous period, Galatasaray A.Ş. increased by 329 percent, while Beşiktaş A.Ş. decreased by 2 percent.