Trabzonspor's net debt announced!

Trabzonspor's ordinary financial general assembly was held at the Karadeniz Technical University Prof. Dr. Osman Turan Congress and Culture Center.

President Ertuğrul Doğan and members of the board of directors were present at the general assembly, which was also attended by former president Ahmet Celal Ataman.

Following the formation of the council, the general assembly began with a moment of silence and the singing of the National Anthem.

Subsequently, Trabzonspor Club General Manager Sinan Zengin read the board of directors' activity, administrative, and financial reports.

TRABZONSPOR'S DEBT ANNOUNCED

Audit Committee Member İsmet Keskin announced the club's net debt as of October 31, 2023, to be 4 billion 45 million liras. Afterward, the board of directors was acquitted by majority vote in terms of administrative and financial aspects.

PRESIDENT DOĞAN'S SPEECH

Trabzonspor Club President Ertuğrul Doğan delivered a speech following the acquittal.

Stating that they have been working on economic, sporting, and administrative matters since they took office in March and have been sharing these, Doğan remarked, "My colleagues and I know the importance of Trabzonspor remaining economically strong. We are acting realistically. Our goal is great, and the way to reach it is through great financial discipline, the creation of new and significant revenue sources, and a smart management policy."

Emphasizing that championships are a tradition for Trabzonspor, Doğan said, "I want to remind you once again that the most important issue for experiencing many more championships in these fertile lands is the economy. We are engaged in very important work to make our club one of the most important clubs in Turkey in both material and moral terms. We are carrying out activities in many areas so that our fans can be proud of Trabzonspor."

Arguing that Turkish football is now on the edge of a precipice, Doğan continued as follows:

"The end of the road has been reached. There is an important broadcasting tender this year. We are in days that concern all our clubs very closely and where no one has the luxury of making mistakes. The broadcasting tender dropped from the 500 million dollar level to under 90 million dollars. For example, even if Trabzonspor wins 3 points in any away game, we have a broadcasting revenue level that cannot even cover the expenses of that away trip. The Clubs Association meeting was held during the week, and important issues were discussed. One of the most important of these issues was the broadcasting tender. We think that this time, unlike the last time, it will be a tender in which 2 or 3 organizations will participate, not just a single broadcaster. Our esteemed federation president and the board of directors have important work regarding this."

Regarding the play-off system discussed for the next season, Doğan said, "The main reason these are being discussed is to be able to pull the broadcasting revenue, which has fallen to approximately 90 million dollars, to the 200 million dollar band. If these stages can be reached, I think our clubs will breathe a little easier."

Noting that one of the most important issues is the electronic ticket tender, Doğan stated, "As is known, the current system is a system that provides contributions to clubs with ridiculous figures that provide income far below the potential. It is a system that cannot expand the market, is far from operating the stadium economy, and is frankly incompetent. Our federation has very serious work on this issue as well. Our expectation from the federation is to maximize these opportunities, turn them into very serious money, and bring important revenue sources to our teams."

Stating that 38-40 million liras were collected with the participation of 19-20 people for the championship monument, Doğan said the following:

"Since building a monument that would only contain the names of 18-19 people does not seem logical at the moment, we are making a plan under the leadership of Mr. Birhan Emre Yazıcı on how we can increase this number and meet expectations, and we are currently preparing. Double Pass, with which we have an agreement for the youth academy, is a firm that has been operating for years with very important clubs in France, England, Germany, and Belgium. There may be shortcomings, and we may have shortcomings. It has been operating seriously for about 6 months. As the city of Trabzon, we know very well that it takes at least 3-4 years for a return to be obtained from the youth academy. I can say that with all our good intentions, we have removed favoritism in the youth academy. It doesn't matter what its name is. What matters is that in my mind, favoritism does not work in the youth academy. I am not saying this to criticize anyone here. We have seen these things for years, we have put our finger on the wound we saw, and we have eliminated this; no one can say otherwise."

Regarding transfers, Doğan said, "Regarding transfers, as I promised on the first day, I first take our coach's request. The scouting committee signs it, the vice president signs it, the president signs it, and all these signatures are shared as a file with our audit committee and all our other board members. Everyone can see this and we can present it. We have nothing to hide in this regard."

Stating that they made their official application regarding the land in Istanbul Kartal 2 months ago, Doğan said, "A study was conducted regarding the purchase of the Kartal land and the development of a project on it. Next week in Ankara, they will give us information about this study. We will also make our planning and, hopefully, acquire that property, meaning the title, for Trabzonspor and reach an agreement with either Emlak Konut or TOKİ to make our club's debts payable."

Noting that the current debt figure was formed when current exchange rate differences and rising interest rates were added, Doğan continued:

"We are trying to be very careful here, to plan everything at every moment. We may have shortcomings at Trabzonspor, but we will not have mistakes. I thank my friends on the board of directors for their devoted and well-intentioned work since the day we arrived. In 8 months, we made payments of 90 million euros from the club's treasury. If this payment had not been made, we would have seen where that debt would have gone then. If that 90 million euros could not have been paid, we would have faced compensation of around 70 million euros due to the termination of those agreements. Plus the moral burden, the burden on the community, plus the burden on the sponsors... In other words, we would have ended up in an inextricable situation. 70 million euros of this 90 million euros is entirely from sponsorship. Hopefully, with a project we will finish at the end of January, we will add another 25 million euros on top of this figure. We are doing our best for the happiness of the Trabzonspor community and for them to see the championship again. While doing all this, we are trying to protect Trabzonspor's financial structure as much as we can."

Emphasizing that it is very important for Trabzon to see new championships, President Doğan concluded his words as follows:

"We turned back from the edge of the precipice; the road is very long and arduous. It is very important for this city to see championships again, but it is important to see them with a sustainable economy. Otherwise, it would be like the championship we saw. Therefore, we have lived through these, seen them, and experienced them. We know what to do and how to do it. My only request is, please stand by our coach and our players and support them. We cannot make this walk alone. We cannot finish this walk without your support. I expect your support on this issue."

A member named Orhan Dağ also came to the podium wearing a Trabzonspor jersey and said, "We are sad about what is happening in Gaza. Our club has some affiliated contracted companies that support Israel. If there is no major contribution, my request is that these sponsorship agreements be terminated."

Meanwhile, President Doğan presented certificates to the female members who qualified for council membership.