Turkish Football News

Galatasaray announce their debt

Galatasaray have announced their debt

Galatasaray have announced, for the fiscal year as of December 31 2017, their debt to be a staggering 2 billion 883 million 46 thousand 894 Turkish Lira.

Turkish Super Lig powerhouse Galatasaray have revealed to the public the total debt the club has, in an assembly which took place at the club’s Lutfi Kirdar Congress Ceneter Anadolu Meeting Hall.

The club and its affiliates owe 2,883,046,894 Turkish Lira (approximately €591 million) while they are still to receive 1 billion 719 million 616 thousand 165 TL (approximately €352 million) in revenue.

Turkish Super Lig clubs are known to be in high levels of financial debt, mainly due to the weak Turkish Lira, and so the news shouldn’t be of a surprise to Turkish football fans. The Lions, being the biggest club in Turkey, are the team with the highest level of debt in Turkey.

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