When talking about league games, Europe and financial conferences, Galatasaray Club management is waiting for a difficult day in March. Before the financial conference on the 26th, Barcelona will play outside and Besiktas will play inside …
At the annual meeting on March 26, the eight-month mission of Brak Elmas and his management will be voted financially and administratively. Loan payments are approaching. Aside from sports performance, the club’s biggest problem is debt that has grown like an avalanche over the years. The fairness of clubs suffering from short-term debt is negative. In addition, within the Bankers Association’s credit structure, where payments will begin next season, there will be 5.5 billion remittances to the club’s income for the next period. Real estate and stocks are also mortgaged. In an environment where football is dying from debt, we spoke with President Braquelmas of the Galatasaray Sports Club.
During the meeting, Burak Elmas, Galatasaray SK Vice President Bikem Kanık, Vice President Özgür Kalelioğlu, Board Members Ahmet OzanŞener and Sportif A.Ş. Ural Aküzüm, an independent member of the board, accompanied him.
Brak Elmas said: The entire industry and clubs should be tightly controlled. “We don’t have the luxury of’not ruining us anyway’,” he said.
Bet from the affected industry
Elmas said: “If there are presidents who want to be popular in football, this is not the time. I say them as Galatasaray, Besiktas, Fenerbahce. We are willing to find a collective solution. Must come with. This is an industry issue.
No club can spend as much as it earns. Unfortunately, we couldn’t do financial fair play in Turkey. The limit is set, but the club tries to extend it. The restrictions do not apply completely.
Due to the logic of “let’s borrow, let the next administration pay”, the debt can no longer be repaid. We are talking about the bankrupt football industry, which is in serious financial difficulty. This needs to be fixed for the future of Turkish football. Acting outside the solidarity where Turkish football is played is not easy. I talk about Turkish football. We need to declare martial law by sector … That’s why we are actively standing at the table to fix things quickly in Turkish sports. In order not to repeat the mistakes of the past, we will continue to do the right thing even if there is a reaction. At the end of our tenure, we brought Galatasaray to this road. I emphasize it. It’s not necessary, it’s a duty! “
There is no Turkish club to pay this debt!
“Currently, there is no football club in Turkey that can pay interest on loan debt with its current income.” Brak Elmas said, “Turkey’s football job is really difficult,” he continued his speech.
“All international sectors are affected by pandemics. This includes football. The main problem that sports clubs experience is not pandemics. Pandemics have occurred. There were no pandemics, but Our sports club had financial problems. It is impossible to maintain this system in the habit of the past.
A restructuring agreement has been signed with the bank. We have a very important responsibility that this framework agreement brings to us. Pay off your debt first, lose money the following year, and then manage your loan costs …
For example, someone has a debt of 3.5 billion TL and mine has 2.5 billion TL. It cuts the same for both of us. Why put both of us in the same category? Our debt is the lowest at 2.5 billion TL and in return there is a project. We pay interest of 350 million TL of 2.5 billion TL every year. Every year, our debt grows automatically and our balance sheet swells …
We have a duty to establish new strategies in our hearts. I’m a 23-year-old manager of Galatasaray. We are a successful team that has made a name for itself in the world. We dream of an auditable and transparent football management system. You need to achieve this with Galatasaray. The most important issue here is infrastructure … “
Kanick: Dead Reconstruction
Following the former presidents of Faruk Süren, Mehmet Kansung and Özhan Canaydin, Bichem Kanik, who became the fourth Galatasaray board member with Burak Elmas’ management, said in addition to Elmas’s explanation: rice field. In other words, it is a restructuring that was stillborn from the beginning. “
Bychem Kanik pointed out that the time of the sports club problem and the burden of the pandemic were on top of it: “There was a country that supported football clubs for the pandemic. Apart from the support, the withholding of 15% It turned into a 40% tax. “
The world talks about the Galatasaray revolution
With an optimistic message for the future, Brak Elmas explained the club’s goals: “A revolution is happening in Galatasaray. We are implementing an exemplary model of football in the world. Our goal is to be Turkey’s first debt-free, profit-free and loss-free club. So, we are aiming to create a model that will be an economic example of the world. We would like to achieve this result from next year. We have no choice but to act quickly and obtain quick results. The decision required is It’s always postponed. In order for Galatasaray to get out of here quickly, we need to do a few things quickly. “
It was possible to do the easy, we chose the difficult
President Galatasaray Elmas summarized his project as follows:
“Galatasaray has won the championship with the success of the sport in the last decade, but it has also been exposed to huge and unsustainable financial burdens. In other words, we are the success of the sport. Leaving a major economic bottleneck for future generations for … My responsibility as President is to act according to Galatasaray’s economic reality without creating populism and to maintain Galatasaray’s values. ..
There is one thing I want to say clearly to the fans. Someone had to do that for this team to have a better future. Of course, it was possible to choose the easy one, we chose the difficult one! We cannot act with populist concerns immediately and cannot put a heavy burden on this prominent club. I have this as a note here. People’s judgments change, and historical judgments are permanent.
Galatasaray’s goal is to create an exemplary success story for football worldwide. The club’s earnings and assets are secured by the bank. Income is constantly declining … The uptrend in Forex has tied up your hand. The biggest project that Galatasaray needs to achieve to get out of this situation is to be young again …
Of course, real estate projects and sponsorship income are valuable projects to reach financial levels. But sustainable success depends on infrastructure … Raising soccer players and getting low-cost soccer players to sell at good prices leads to both sports and economic success. Many European clubs have thus returned from the brink of bankruptcy. As Galatasaray, we are competing with Europe in Europe.
Now that foreign currency broadcasts and sponsorship revenues are declining, we are younger, to reduce costs and to continue to fight European competitors on reasonable terms, even if not on equal terms. There is no other way! As business owners, we can eat criticism today! Our Galatasaray will eat the fruits of these decisions tomorrow … so we are very comfortable! “
The club is ready to establish a popular TV channel!
Let’s come to soccer broadcast bidding, which is one of the most important issues in the previous term. The value of broadcasting in Turkish football dates back almost 12 years. Aside from the club’s performance failure, social media has been largely abandoned by spectators as football’s words were tainted with blasphemy, referee mistakes, and TFF decisions.
President Galatasaray’s Burak Elmas said of the broadcast bid: After that, a pandemic discount occurred. The publisher actually wanted a discount every year. Recently, this figure has dropped to about $ 220 million. Clubs are determined to determine their future and work together to increase brand value. All clubs agree here. We are on the same ship. We have a great partnership, we can talk.
The match will be seen next year, but Turkish football is not just an option, so clubs are eager to do the right thing for the future of Turkish football. Don’t leave the future to the will of a single broadcaster.
Our federation will also be decided and we will decide together. It will heal in a week or two. The decision to set up a television channel together, broadcast our own games on this television channel, and cut our own ropes was the most extreme decision made. The club is ready for that too.
Today, overseas leagues have a corporate system and are bidding. They do brand communication. In fact, these should be played in Turkish football Süper Lig A.Ş. It is a transition model to.
Value enhancers also provide an opportunity to switch to a model that better manages the brand. We are discussing this with all club presidents. I think you can see the bottom of Turkish football. To establish the future, we need to use the right system and the right model. At these points, you need to show that courage. “
The island will be opened as a social facility in the summer
Burak Elmas said he had hijacked Galatasaray after completing the judicial process. It hasn’t been used for a long time. It’s a ruin now. We will overhaul it and utilize it as a social facility next summer.
ŞENER: Sit at the table with EMLAK KONUT
Galatasaray’s board member, Ozan Shener, He gave information about real estate work: the Mecidiyeköy building was empty for 12-13 years. As a team that includes Erden Timur and Avi Alkaş, we are working on a building evaluation formula in the best way for Galatasaray. We talked with Emlak Konut again and evaluated the location of the Florya facility. When constructing a facility in the 100 decare area assigned to Kemerburgaz, we will move there and make the best use of Florya’s land with Emlak Konut. “
KALEL STRUCT OĞLU: CAMPOS is a very accurate and strategic step
Vice President Galatasaray Özgür Kalelioğlu also provided information on the club’s project to boost and increase player sales.
“”Our sporting director, Luis Campos, who works as a direct adviser to the President in Galatasaray, is a soccer player who has generated over € 2 billion in sales over the last decade. He himself as an economic model. He is one of the most important professionals in the world to produce and earn money from soccer players. Therefore, I think we have taken a very right step.
Campos is one of the world’s leading football geniuses in the last decade … he became the Monaco champion in 2017 and last year the town team Lille became the champion. And by smashing giants like PSG for teams including Messi and Mbappe … while doing this, he created a team of 55 million euros on Lille and sold it for 300 million euros. He set up a team in Monaco for € 80-90 million and sold it for € 400 million.
He led both teams to the championship with strategic acquisitions and strategic player transfers. In addition to all this, these clubs have become one of the wealthiest clubs in the world economically. “