The Yellow Canaries are not only struggling on the pitch but financially as well. Club president Ali Koc spoke at length about the hardship the club is facing during a press conference on Tuesday.
Newly appointed coach Ersun Yanal was presented to reporters at Ulker Stadium during a signing press conference on Tuesday. Club president Ali Koc was also present alongside their new man and he took the time to answer questions from reporters.
Koc revealed the club will not be able to meet their obligations to UEFA’s Financial Fair Play and therefore, could be barred from participating in European competitions.
“Like I said before, we will not be able to comply with the Financial Fair play rules. To do so, if I’m not mistaken, this season we would need to bring in €60 million, which of course, is not possible. Even if we didn’t spend a single penny, we would not be able to meet the Financial Fair Play rules. How will UEFA respond? I don’t know. We have a meeting on January 31,” he explained.
He revealed there will be several players who will leave the club in order to reduce the burden on their wage budget.
Speaking about the club’s finances and plans ahead of the January transfer window, he said Fenerbahce have a budget of just €11.9 million.
“Due to Financial Fair Play, we have a €11.9 million budget. Before our new coach arrived, we had plans. We plan to sell some and to loan some players. The best model that would work for us, considering the situation we find ourselves in, is to loan for 18 months with the option to buy,” the president said.
Fenerbahce desperately need to turn things around if they wish to remain in the Turkish Super Lig as they currently find themselves in an unprecedented 17th place with half the season gone.
