Galatasaray management receives full authorization in 11 areas
At the yellow-red club's extraordinary general assembly, Dursun Özbek and his team received unanimous authorization from members for comprehensive projects.
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A critical decision has been made regarding investments that will shape the future of Galatasaray Sports Club. At the extraordinary general assembly held at the Lütfi Kırdar International Convention and Exhibition Center, the board of directors led by club president Dursun Özbek was authorized in 11 different areas. The general assembly, which was held today due to the postponement of the previous meeting where a quorum could not be reached, gave the green light for major projects and structural changes.
Among the items for which the board of directors requested authorization, the evaluation of Leo Residence, the academy and dedicated facilities for the women's football team in Kemerburgaz, the Aslantepe Valley project, the new Florya Metin Oktay Sports Facility, the Hasnun Galip Building, and lands in Riva and Büyükçekmece stood out. Additionally, items such as the incorporation of the basketball branch, the public offering of Galatasaray Merchandising, processes related to Sportif AŞ shares, and an increase in club membership fees were presented to the members for a vote.
Each proposal item received the approval of the general assembly members, and authority was transferred to the board of directors. Following the votes, members gave a message of support by applauding Dursun Özbek and his team for a long time. Özbek described the point the club has reached as "Turkey's Bayern Munich."
NEW STEPS FOR GIANT PROJECTS
While a large part of the Metin Oktay Facilities in Florya is being vacated to be converted into a revenue-generating housing project, the construction of a new sports facility will begin on the 19.25-acre area allocated by the Ministry of Youth and Sports. The club plans to cover the financing of this new structure with the revenue to be obtained from the Leo Residence and Riva projects. The facility, which is expected to cost approximately 750 million TL, is targeted to be completed in 2028.
The board was also authorized to evaluate the remaining 60 residences and commercial areas belonging to Galatasaray in the Leo Residence project in Mecidiyeköy. These areas, excluding the 120 independent units to be delivered in July, are expected to contribute approximately 1.5 billion TL to the financing of current projects.
Efforts for new facilities in Kemerburgaz have also been accelerated. In this region, where the A-team has moved, the second phase will include a football academy, a camp building for the women's football team, and new fields. While the budget foreseen for the second phase is 1 billion 150 million TL, the targeted completion date is next year.
An ambitious facility plan is also being implemented on Aslantepe Valley. This giant project, which will be located on a 60-acre area next to the Ali Sami Yen Sports Complex, will host many branches from basketball courts to judo and volleyball halls, and from a swimming pool to a camp facility. The first stage of the project, which is expected to reach 230 million dollars, will be completed in 2028, and the second stage in 2030. Financing will be provided by revenues from Mecidiyeköy and Riva, sponsorship and naming rights, and loans not exceeding 30%.
The old club building in Beyoğlu, Hasnun Galip, will be brought back to Galatasaray. The cost of the new 2,000-square-meter building will exceed 150 million TL and it will be opened for service at the end of 2027.
In Riva, authorization was obtained for the title deed transactions of the 28-acre commercial area adjacent to the club, while in Büyükçekmece, the transfer of authority was provided for facility projects on a 106-acre land for the use of infrastructure branches.
STEPS FOR BASKETBALL AND INCORPORATION
It was decided to proceed with incorporation for the club's basketball branch. Galatasaray Basketbol AŞ will be established with the goal of participating in the NBA Europe organization, and if necessary, a portion of the shares will be opened to investors. Furthermore, regarding Sportif AŞ shares, purchases can be made or sales can be conducted, provided that the current shareholding ratio does not fall below 60%.
Shares of Galatasaray Mağazacılık ve Perakendecilik AŞ may be offered to the public, provided that the majority remains with the club. Within the scope of all these initiatives, a 25% increase will be applied to club membership and annual dues for the 2026-2027 periods.