Emerging as Football's Potential New Powerhouse: Turkey
In the vibrant world of Turkish football, three Istanbul clubs – Galatasaray, Fenerbahce, and Besiktas – have been making waves, not just on the pitch, but also off it. These clubs, often referred to as the 'big three', have been at the centre of a financial saga that involves government influence, financial support, and questions about sustainability.
Government influence and financial support
The 'big three' clubs rely heavily on state-backed loans and debt restructuring to support their massive spending in the transfer market. This financial backing, tacitly supported by the government, is a key factor in their ability to attract high-profile international players.
One example of this is Galatasaray's recent €75 million signing of Nigerian striker Victor Osimhen, the most expensive in Turkish football history. Fenerbahce's new striker, Jhon Duran, is expected to earn close to €20 million net annually, while Leroy Sane, recently signed from Bayern Munich, will earn €12 million per year.
Political dimensions
The government's support for these clubs is not without political implications. Some believe the government has made a deal with the 'big three' clubs to keep their fan groups in line in exchange for turning a blind eye to spending on players. This has led to football clubs becoming intertwined with political agendas and voter influence in Turkey.
Financial sustainability concerns
Despite their financial might, experts warn that this spending spree is unsustainable. Unlike wealthy oil-backed leagues, Turkish clubs earn principally in Turkish lira while incurring costs in euros and dollars, widening the income-expense gap. This, along with declining broadcast revenues and limited matchday income, raises concerns about the long-term financial viability of these clubs.
Impact on player attraction
Despite these concerns, the state-supported spending spree has allowed the 'big three' clubs to attract world-class international players. Galatasaray, Fenerbahce, and Besiktas are now rivalling Saudi Arabia in the transfer market, with the likes of Victor Osimhen, Leroy Sane, and Jhon Duran gracing their rosters.
Sponsorship and commercial deals
Alongside state support, recent lucrative sponsorships, such as Fenerbahce’s €120 million deal with US company Chobani, also contribute to the clubs’ financial muscle, moving them towards some financial independence, albeit within a context of significant government associations.
Enforcement of the law
Despite a law that allows for prison sentences for officials who drive their clubs into debt, it has never been enforced. The Turkish Ministry of Sports has not yet responded to a query on how the clubs have been able to continue borrowing despite the law meant to curb the practice.
Conclusion
The financial capacity of Galatasaray, Fenerbahce, and Besiktas has been significantly inflated by government and state support, allowing them to compete for and sign top international players. However, this support is closely intertwined with political interests and creates financial risks that experts caution are unsustainable in the long run.
- The Turkish government, through state-backed loans and debt restructuring, offers significant financial support to the 'big three' football clubs, Galatasaray, Fenerbahce, and Besiktas, enabling them to compete in the international transfer market.
- This financial backing allows these clubs to attract high-profile players, like Victor Osimhen, Leroy Sane, and Jhon Duran, positioning them as major contenders in the transfer market, even rivaling Saudi Arabia.
- The political ramifications of this financial support are evident, as some argue the government has made a deal with these clubs to influence their fan groups in return for overlooking questionable spending practices.
- However, experts caution that the unsustainable spending habits of these clubs, exacerbated by their reliance on Turkish lira while incurring costs in euros and dollars, could lead to long-term financial instability, despite lucrative sponsorships and commercial deals.
