Debt crisis at the 'Big Three' reaches a new peak: The total figure is staggering

The economic problems of the most talked-about clubs in Turkish football have returned to the agenda with recently released financial reports. According to the latest balance sheets submitted to the Public Disclosure Platform (KAP), Galatasaray, Fenerbahçe, and Beşiktaş are in a serious financial bottleneck. The total debt of the three giants has increased compared to previous periods, reaching 71 billion 550 million TL. Furthermore, it was announced that a total loss of 5 billion 375 million TL was incurred over the past nine-month period.

According to a report in Sözcü, Galatasaray holds the highest debt. The yellow-reds top the list with a total debt of over 25 billion 650 million TL, while their net debt ratio remains at similar levels. They are followed in second place by Fenerbahçe with 23 billion 910 million TL. Beşiktaş is in third place with a total debt of 22 billion 20 million TL.

Due to fluctuations in foreign exchange rates and rising expenses, the clubs' debt is also high in Euro terms: the 'Big Three' have accumulated a total debt of approximately 1.37 billion Euros.

On the other hand, the distribution of losses shows a different picture. According to the nine-month reports, Fenerbahçe's loss item reached 2 billion 580 million TL, placing it first in this category. Galatasaray was second with 1 billion 620 million TL, and Beşiktaş was third with a loss of 1 billion 170 million TL. Trabzonspor, which received an extension, will announce its balance sheet later.

News Source: 12punto