The 'champion' of the stock market league in the first quarter has been determined

Among the sports clubs traded on Borsa Istanbul, the sports company that provided the highest return to its investors in the first quarter was Beşiktaş Futbol Yatırımları Sanayi ve Ticaret AŞ, with its shares rising by 20 percent.

The sports index gained 6.8 percent in value during the January-March 2024 period.

While announced balance sheets, transfers made, revenues obtained from transfers, and sponsorship agreements positively influenced the stock market performance of sports companies in the first quarter of the year, financial difficulties and incidents on the pitch had a negative impact on share performance.

Among the sports clubs traded on Borsa Istanbul, Beşiktaş, whose shares completed the first quarter of the year with a 20 percent increase, became the sports company that provided the highest return to its investors during this period. During this period, the club had transferred Norwegian defender Jonas Svensson, Joe Worrall, Ernest Muçi, and Ali Muhammed Al-Musrati. Beşiktaş also signed a 3-year jersey chest sponsorship deal with Beko.

Galatasaray Sportif Sınai ve Ticari Yatırımlar AŞ also provided a 6.8 percent return to its investors in the first quarter. The club's performance on the pitch and the turnaround of its balance sheets from loss to profit played a significant role in the rise of Galatasaray's shares. Galatasaray, which reported a loss of 952.3 million lira for the period of June 1, 2022, to May 31, 2023, turned to a net profit of 34.3 million lira for the period of June 1, 2023, to November 30, 2023.

In the first quarter of the year, Fenerbahçe Futbol AŞ shares recorded a decrease of 6.2 percent, while Trabzonspor Sportif Yatırım ve Futbol İşletmeciliği shares recorded a decrease of 11.8 percent.

SPORTS STOCKS DISAPPOINTED INVESTORS IN MARCH

Shares of sports clubs traded on Borsa Istanbul recorded a decrease in March. Last month, Galatasaray caused a loss of 4.1 percent, Fenerbahçe 17.7 percent, Trabzonspor 17.9 percent, and Beşiktaş 23.9 percent for their investors.

Beşiktaş, which has been unable to satisfy its fans on the pitch in recent weeks, also disappointed its investors in the stock market. While a general downward trend was observed in Fenerbahçe and Trabzonspor shares in March, this trend continued after the incidents that occurred during the Trabzonspor-Fenerbahçe match.

Furthermore, UEFA imposed a ban on Fenerbahçe from selling tickets to its fans for the next 3 away matches and a fine of 80 thousand euros due to crowd incidents during the match played in Belgium against Union Saint-Gilloise in the UEFA Europa Conference League Round of 16.

BEŞİKTAŞ HAS THE HIGHEST MARKET VALUE

Among the 4 publicly traded sports companies, Beşiktaş had the highest market value. The club finished last month with a market value of 12 billion 348 million lira. Beşiktaş was followed by Fenerbahçe with 8 billion 487 million 535 thousand lira, Galatasaray with 7 billion 268 million 400 thousand lira, and Trabzonspor with 3 billion 550 million lira.

News Source: AA