The Anatolian club are in debt to the tune of 140 million (approximately €23 million) Turkish Lira.
Kayserispor’s president Erol Bedir revealed the club’s debt to reporters today as he spoke to reporters at the club’s training facilities in Kayseri.
In addition to their financial woes, the Super Lig club have been banned from making transfer for one year by UEFA last month, making things even more complicated for them in the second half of the season.
“We have had very troublesome days. The TFF [Turkish Football Federation] used to give clubs 30% of the down-payment they are supposed to give each year. This year, they paid just 10% of the amount. Due to the weak exchange rate, we were paid less because the actual exchange rate wasn’t used but rather the one that was agreed upon before. Interest rates have increased. We had to make payments based on the current exchange rate. Therefore, debts increased. With regards to paying, we really struggled. Also, because of lack of success in the sporting sense, economically we suffered even more.
The club president talking about the club’s finances.
“We owe 130-140 million TL. If we look at the finances in detail, it might be 5 million more or less. But that’s the overall amount. Prior to the Akhisarspor game, we received a warning for not paying the wages of 9 of our players. I found a source for the money. But I decided to pay the players who didn’t complain from us about not receiving their wages rather than the ones who did make official complaints. I did this to show the players who didn’t complain that we support them.
“We’ve reached an agreement with those that players that protested. As of now, we have no issues with anyone. There are no players who wish to terminate their contracts. A number of payments were made. However, during the winter break, there will be payments that need to be made again,” the president explained in detail.
The Super Lig club, like most clubs in the league, are experiencing financial difficulties to the weak Turkish Lira against the Euro at the moment, making it very difficult to maneuver in the transfer market.
