Besiktas have become the fastest growing club in Europe.
Turkish Super Lig giants Besiktas recorded the biggest growth in club value among Europe’s top teams, accounting firm KPMG said in a report published Wednesday.
According to the report, Besiktas’s enterprise value — the amount it would take the buy the club — grew 52 percent as of Jan. 1, 2018 year-on-year, reaching 333 million euros ($401 million).
The KPMG attributed the increase in the Turkish club’s value to the first full season played in the brand new Vodafone Park and the team reaching the Europa League quarterfinals in the 2016/17 season.
“We calculate the assets of each club, if they own a stadium for example, the value of the players, but also the value of the brand or image with advertising contracts and their reach on social networks,” Jacques Boussuge , the head of sports advisory at KPMG, explained the company’s methodology.
Meanwhile, Beşiktaş’s Istanbul rivals Galatasaray and Fenerbahce lost 13 and 9 percent in value, respectively. The Lions’ value decreased to 330 million euros ($398 million) and the Yellow Canaries to 319 million euros ($385 million).
The Turkish clubs were placed 23rd, 25th and 27th in the ranking of top 32 European teams according to their value.
Olympique Lyon followed Besiktas with 35 percent annual growth, while third-placed Leicester City grew 29 percent with a value of 596 million euros mainly due to a rise in profit.
English side Manchester United remained at the top of the list as its value grew 5 percent year-on-year to 3.2 billion euros ($3.77 billion). Spanish giants Real Madrid with an estimated value of 2.9 billion euros ( $3.5 billion) and Barcelona with 2.8 billion euros ( $3.35 billion) completed the top three.
In total, the financial value of the 32 clubs reached an estimated 32.5 billion euros, a 9 percent increase from 2017.
The least valuable club among top 32 valuable European clubs is Valencia. The Spanish club’s current value is €239 million ($280 million)