Good news for Galatasaray from the Banks Association: CMB approves capital increase
Super Lig side Galatasaray has moved one step closer to exiting the Banks Association agreement after the Capital Markets Board (CMB) approved its capital increase request. Galatasaray will generate 1 billion 728 million lira in revenue from the capital increase.
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Following Trabzonspor, Galatasaray is also preparing to exit the Banks Association agreement. Under the leadership of President Dursun Özbek, the yellow-reds, aiming to rid themselves of the interest burden, have strengthened their steps in this direction.
CAPITAL INCREASE REALIZED
According to a report by Sabah newspaper, the Capital Markets Board (CMB) has approved Galatasaray's request for a capital increase. In line with this decision, the club will generate 1 billion 728 million lira in revenue from the capital increase.
THE REVENUE GENERATED WILL BE USED TO EXIT THE BANKS ASSOCIATION AGREEMENT
The revenue generated will be used to exit the Banks Association agreement. It is stated that President Dursun Özbek and board member Abdullah Kavukçu played a significant role in the successful completion of this process.