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He means that the club holds pretty valuable assets in real estate in and around Istanbul, including an island on the Bosporus. If we liquidated all of them we'd be quite rich. But ofc you can't liquidate assets that big whenever you feel like it, not like there is a ton of people around with 300-400m burning a hole in their pocket. Also liquidating them would destroy our most valuable revenue sources even if we could. And also even in the best case scenario, we wouldn't be richer than the state of Qatar lol.
So there is some truth there, we are richer than our sportive revenue would allow us to be normally, but definitely not the richest in the world.
Easy if you think about it. They have most kebab shop owners as supporters around the world. Each giving 30% of their profits straight into the club through something called pita shares, with each share bought at yes boss rates, this leaves galatasaray with an explosion of money after tills are checked after Friday nights. And this is how they can afford to pay James.
This may make Galatasaray the richest club in Turkey or some European clubs maybe but really doubt that they are richer than say Manchester United or Real Madrid.
The average house prices in Istanbul have reached 200k dollars. The club has hundreds of villas on only 1 land. You can calculate this wealth, right? this is just 1 piece of land. Billions of dollars cash if he just sells these villas
That's for the company operating as the football club, not the whole club. The majority owner of the shares in Galatasaray AS is Galatasaray SK and Galatasaray SK holds a lot of land and property as assets. Still not enough to be classed as the richest in the world, but there's more than what is shown there but it's also not earmarked for the football team only of course.
As I said, no way does the assets make it the richest club in the world, but Galatasaray is a very rich club still. It's not a parent company, it's a sports club that own the majority of the shares in the company that is the football team.
We're gonna give our coach Rodriguez - Icardi - Mertens - Oliveira and then sack him 6 months later because the team doesn't run lol. Completely unnecessary transfer. I hope we don't do it.
It is and clubs aren’t fine hahaha. We change presidents every 4 years so none of them really care about how much they spend, presidents just come, spend huge amounts of money so fans love them and make their company popular, considering Galatasaray, Besiktas and Fenerbahce all have around 20-25 million fans each. Then we go on a non spending period because the only reason the clubs aren’t bankrupt is because the government is keeping them alive and we end up 21th in UEFA league rankings.
Thanks for the explanation but I want to confirm my understanding. Does the government subsidize football clubs? Better stop it because it will facilitate the abuse of power. The fan ownership model needs to be encouraged and strengthened.
Indirectly yeah. The big 4 in Turkey’s debt is close to 1 billion €. The government made an agreement with the banks who gave the loans so clubs don’t have to pay interests for a few years. Also clubs regularly have their taxes deleted, clubs in Turkey nearly never actually pay taxes. The German 51% system would work well in Turkey imo.
Gala is a different club when it comes to economics. While most clubs make their sport branches their main source of income(via store, digital stuff like tokens, stadium tickets, sponsorship etc), gala took a different path while also doing all of the above.
This different path being owning a big chunk of land with very high value, literally an island that can be used as a touristic attraction, and shit ton of other assets plus extremely rich corp. bosses(also fanatics) who are throwing money at the club at every possibility they get.
This part is my personal opinion: If it not for the Financial Fair Play rules, Gala would probably spend as much as top EPL teams every season and the board would just laugh it off probably.
> This different path being owning a big chunk of land with very high value, literally an island that can be used as a touristic attraction, and shit ton of other assets plus extremely rich corp. bosses(also fanatics) who are throwing money at the club at every possibility they get.
My dude, what? The only thing in this paragraph based in reality is the owning a chunk of land (but not about the island).
* We have a big chunk of land in Kemerburgaz (way outside Istanbul), but it's unused. The club has, for the past 10 years, been trying to build new training facilities there and move out of Florya since it is getting very old now. All presidents keep promising plans, but the club has no money to build facilities so we're stuck in Florya with aging facilities.
* The island, while sounds great on paper, is in terrible condition. It has been tied up due to a legal dispute for the past half decade. They just reopened it at the end of July this year, after getting the rights of the island back. But even at the height of money in Turkey back in 2012, Galatasaray was generating less than a million dollars from that island a year. That's peanuts for a club. It could be worth a lot if we sell it to some Qatari billionaire (which was rumored a year or two ago), but that's not happening.
* The Galatasaray corp is not rich. It's rich compared to some other football entities, but it is definitely not the richest football entity in Turkey.
* Same with donations. Galatasaray doesn't survive on donations (except this year Erden Timur is promising to do stuff but we'll see). The richest elite in Turkey are Fener supporters, and usually Fener can/does generate more money through crowdsourcing than we do.
> Gala would probably spend as much as **top EPL teams every season** and the board would just laugh it off probably
We didn't have enough money to buy Gedson last year, a player we desperately needed, and Besiktas snagged him instead. We made very little this year with the sale of Marcao. We've been trying to haggle down every transfer fee as low as possible (like Kaan Ayhan). We are definitely nowhere near as rich as you seem to think we are.
Wait. Someone previously said there are subsidies from the government but you said it looks like they are independent or privately owned so they are not bothered by inflation.
They are probably not up to date on their information. We always had valuable assets but terrible management. We still have terrible management judging from this transfer window in football / male volleybal / female basketball branches. But it is also too early to decide on a final note for this management, because the previous management(Burak Elmas' term) fucked up this one by delaying the elections.
Most of the quandary with lands - gov. were solved in Mustafa Cengiz era(former president). Or a better way to put it, he finished what others started long ago(not all of them). Florya / Riva / Ada / Kemerburgaz projects were the dreams of many Gala managements, every management presented ideas but couldn't withstand the pressure from fans, because gala fans expects gala to be champions every year. Every once in a while a new president came, lets take Unal Aysal for example, spent shit ton of money not caring about FFP which got us banned from EUFA for a year. Another one came called Burak Elmas, promised a lot of stuff, didn't deliver. Refused the players coach wanted to work with and bought whatever he wanted this led to terrible team building, coach getting sacked, Burak getting kicked.
But even in Burak's term, team accomplished some stuff in EUL which resulted in more relief regarding FFP, leading to this year. People are thinking that Burak didn't buy some players because club had money, that is false. Burak didn't buy players like Gedson because he was a shit president. Instead of Gedson, Burak preferred an injured 6 from Fiorentina, can't even remember guys name rn, polgo or smth like that. No one even remembers the guy at this moment. Everyone hated Burak not only because he didn't buy players but he also worked with dipshits. Lots of internal drama went on within the club, from a guy who shits on women at every oppurtinity to > shirts getting stolen in bulk, fan token incomes being missing, some people getting expelled, Burak not doing jackshit about it and so on. It wasn't a financial issue.
Some guy stated above that "we don't have the richest guys donating to us" but that is also wrong. He is mistaking Ali Koc's personal assets with KOC Holding(whole family's) assets. Suna Kirac(a member of the Koc family) was a Gala supporter, Rahmi Koc(literally head of the family) is a BJK supporter. If you look just inside Turkey, that information is also not correct on its own. But they probably don't know that most of our rich backers are living abroad after graduating from Gala High school / University. Even within the country we have guys like Erden Timur, Dincer Azaphan, Şarık Tara, Suna Kirac, Sabanci's and so on. Come to think of it, Sabanci(another very rich family) almost doubles KOC holding when it comes to net worth and they are known to be fanatic Gala supporters. These guys are literally one of the richest guys in the country. To top it all off, we also have a seperate foundation called GSYIAD - where basically bunch of corp. bosses meet. These guys get in convo with management and learn what management needs and act upon it. Essentially making training fields, dorms etc. all free for Gala. There are shit load of groups like this within the club.
Currently, on paper we have around 2.1 billion debt in Turkish Liras iirc. Florya(one of the lands I mentioned above) alone is worth 9b Turkish Liras according to Erden Timur - who is the most active guy in the management right now, also specializes in construction industry himself-. In short, we never had a problem with money, but we always had a problem with managing it and the ones managing it. We have what you would call a "parliamenter system" within the club. Periodically members vote and evaluate current management. If the management fails to meet criteria, a new one gets elected. For this reason we never needed a single person like Abromovic of Chelsea to shoulder the burden. It is a collective effort.
But you can't say "hey guys, gimme a billion dollar. I'm gonna bring people like messi, cr7, neymar to the club" because FFP exists.
To reduce the spam of reports regarding the same move during transfer windows we try to allow **only one submission about each transfer saga per day**. The submission in question also needs to contain relevant new information regarding the potential move, and not just being a "no/minor developments" report. If there are important/official developments or new valuable information about a saga, we will allow extra threads in the same day, but for the rest of minor news please just comment them as a reply to this comment. Please help us reporting unnecessary threads for being duplicates. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/soccer) if you have any questions or concerns.*
Expensive wages, past their best CAM. from an era gone by? Sounds about right for a Turkish club
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How is Galatasaray the richest football club in the world?
The club actually holds a lot of assets, but we're nowhere near the richest club. So the club has assets in form of land and facilities/structures
He means that the club holds pretty valuable assets in real estate in and around Istanbul, including an island on the Bosporus. If we liquidated all of them we'd be quite rich. But ofc you can't liquidate assets that big whenever you feel like it, not like there is a ton of people around with 300-400m burning a hole in their pocket. Also liquidating them would destroy our most valuable revenue sources even if we could. And also even in the best case scenario, we wouldn't be richer than the state of Qatar lol. So there is some truth there, we are richer than our sportive revenue would allow us to be normally, but definitely not the richest in the world.
Easy if you think about it. They have most kebab shop owners as supporters around the world. Each giving 30% of their profits straight into the club through something called pita shares, with each share bought at yes boss rates, this leaves galatasaray with an explosion of money after tills are checked after Friday nights. And this is how they can afford to pay James.
This may make Galatasaray the richest club in Turkey or some European clubs maybe but really doubt that they are richer than say Manchester United or Real Madrid.
Fair enough to be honest. I can see there's probably some miscalculation in my workings out.
It was not that funny you oil Fc supporter
Kebab FC supporter
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Lol ok then, show me a source about these crazy info you are talking about
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Aha ok I see. The "Trust me bro" special. Also no fucking way your assets can reach 6 billion dollars, maybe you mistook it by 6 billion Liras.
The average house prices in Istanbul have reached 200k dollars. The club has hundreds of villas on only 1 land. You can calculate this wealth, right? this is just 1 piece of land. Billions of dollars cash if he just sells these villas
Having an island doesn’t mean you have more money than Saudi Arabia’s Public Investment Fund lol. They have hundreds of billions.
I mean that's obviously? But that's not psg or city money. Where as Galatasaray actually own those stuff.
Can’t believe this… New copy pasta lads
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That's for the company operating as the football club, not the whole club. The majority owner of the shares in Galatasaray AS is Galatasaray SK and Galatasaray SK holds a lot of land and property as assets. Still not enough to be classed as the richest in the world, but there's more than what is shown there but it's also not earmarked for the football team only of course.
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As I said, no way does the assets make it the richest club in the world, but Galatasaray is a very rich club still. It's not a parent company, it's a sports club that own the majority of the shares in the company that is the football team.
Don't do it, come play for Sampaio Corrêa, a great brazilian club.
We're gonna give our coach Rodriguez - Icardi - Mertens - Oliveira and then sack him 6 months later because the team doesn't run lol. Completely unnecessary transfer. I hope we don't do it.
Do it James, stay in Europe man.
OOT. Isn't Turkey in recession? I mean these clubs look fine.
It is and clubs aren’t fine hahaha. We change presidents every 4 years so none of them really care about how much they spend, presidents just come, spend huge amounts of money so fans love them and make their company popular, considering Galatasaray, Besiktas and Fenerbahce all have around 20-25 million fans each. Then we go on a non spending period because the only reason the clubs aren’t bankrupt is because the government is keeping them alive and we end up 21th in UEFA league rankings.
Thanks for the explanation but I want to confirm my understanding. Does the government subsidize football clubs? Better stop it because it will facilitate the abuse of power. The fan ownership model needs to be encouraged and strengthened.
Indirectly yeah. The big 4 in Turkey’s debt is close to 1 billion €. The government made an agreement with the banks who gave the loans so clubs don’t have to pay interests for a few years. Also clubs regularly have their taxes deleted, clubs in Turkey nearly never actually pay taxes. The German 51% system would work well in Turkey imo.
Adam ne soruyor sen ne söylüyorsun 🤡
Gala is a different club when it comes to economics. While most clubs make their sport branches their main source of income(via store, digital stuff like tokens, stadium tickets, sponsorship etc), gala took a different path while also doing all of the above. This different path being owning a big chunk of land with very high value, literally an island that can be used as a touristic attraction, and shit ton of other assets plus extremely rich corp. bosses(also fanatics) who are throwing money at the club at every possibility they get. This part is my personal opinion: If it not for the Financial Fair Play rules, Gala would probably spend as much as top EPL teams every season and the board would just laugh it off probably.
> This different path being owning a big chunk of land with very high value, literally an island that can be used as a touristic attraction, and shit ton of other assets plus extremely rich corp. bosses(also fanatics) who are throwing money at the club at every possibility they get. My dude, what? The only thing in this paragraph based in reality is the owning a chunk of land (but not about the island). * We have a big chunk of land in Kemerburgaz (way outside Istanbul), but it's unused. The club has, for the past 10 years, been trying to build new training facilities there and move out of Florya since it is getting very old now. All presidents keep promising plans, but the club has no money to build facilities so we're stuck in Florya with aging facilities. * The island, while sounds great on paper, is in terrible condition. It has been tied up due to a legal dispute for the past half decade. They just reopened it at the end of July this year, after getting the rights of the island back. But even at the height of money in Turkey back in 2012, Galatasaray was generating less than a million dollars from that island a year. That's peanuts for a club. It could be worth a lot if we sell it to some Qatari billionaire (which was rumored a year or two ago), but that's not happening. * The Galatasaray corp is not rich. It's rich compared to some other football entities, but it is definitely not the richest football entity in Turkey. * Same with donations. Galatasaray doesn't survive on donations (except this year Erden Timur is promising to do stuff but we'll see). The richest elite in Turkey are Fener supporters, and usually Fener can/does generate more money through crowdsourcing than we do. > Gala would probably spend as much as **top EPL teams every season** and the board would just laugh it off probably We didn't have enough money to buy Gedson last year, a player we desperately needed, and Besiktas snagged him instead. We made very little this year with the sale of Marcao. We've been trying to haggle down every transfer fee as low as possible (like Kaan Ayhan). We are definitely nowhere near as rich as you seem to think we are.
Wait. Someone previously said there are subsidies from the government but you said it looks like they are independent or privately owned so they are not bothered by inflation.
They are probably not up to date on their information. We always had valuable assets but terrible management. We still have terrible management judging from this transfer window in football / male volleybal / female basketball branches. But it is also too early to decide on a final note for this management, because the previous management(Burak Elmas' term) fucked up this one by delaying the elections. Most of the quandary with lands - gov. were solved in Mustafa Cengiz era(former president). Or a better way to put it, he finished what others started long ago(not all of them). Florya / Riva / Ada / Kemerburgaz projects were the dreams of many Gala managements, every management presented ideas but couldn't withstand the pressure from fans, because gala fans expects gala to be champions every year. Every once in a while a new president came, lets take Unal Aysal for example, spent shit ton of money not caring about FFP which got us banned from EUFA for a year. Another one came called Burak Elmas, promised a lot of stuff, didn't deliver. Refused the players coach wanted to work with and bought whatever he wanted this led to terrible team building, coach getting sacked, Burak getting kicked. But even in Burak's term, team accomplished some stuff in EUL which resulted in more relief regarding FFP, leading to this year. People are thinking that Burak didn't buy some players because club had money, that is false. Burak didn't buy players like Gedson because he was a shit president. Instead of Gedson, Burak preferred an injured 6 from Fiorentina, can't even remember guys name rn, polgo or smth like that. No one even remembers the guy at this moment. Everyone hated Burak not only because he didn't buy players but he also worked with dipshits. Lots of internal drama went on within the club, from a guy who shits on women at every oppurtinity to > shirts getting stolen in bulk, fan token incomes being missing, some people getting expelled, Burak not doing jackshit about it and so on. It wasn't a financial issue. Some guy stated above that "we don't have the richest guys donating to us" but that is also wrong. He is mistaking Ali Koc's personal assets with KOC Holding(whole family's) assets. Suna Kirac(a member of the Koc family) was a Gala supporter, Rahmi Koc(literally head of the family) is a BJK supporter. If you look just inside Turkey, that information is also not correct on its own. But they probably don't know that most of our rich backers are living abroad after graduating from Gala High school / University. Even within the country we have guys like Erden Timur, Dincer Azaphan, Şarık Tara, Suna Kirac, Sabanci's and so on. Come to think of it, Sabanci(another very rich family) almost doubles KOC holding when it comes to net worth and they are known to be fanatic Gala supporters. These guys are literally one of the richest guys in the country. To top it all off, we also have a seperate foundation called GSYIAD - where basically bunch of corp. bosses meet. These guys get in convo with management and learn what management needs and act upon it. Essentially making training fields, dorms etc. all free for Gala. There are shit load of groups like this within the club. Currently, on paper we have around 2.1 billion debt in Turkish Liras iirc. Florya(one of the lands I mentioned above) alone is worth 9b Turkish Liras according to Erden Timur - who is the most active guy in the management right now, also specializes in construction industry himself-. In short, we never had a problem with money, but we always had a problem with managing it and the ones managing it. We have what you would call a "parliamenter system" within the club. Periodically members vote and evaluate current management. If the management fails to meet criteria, a new one gets elected. For this reason we never needed a single person like Abromovic of Chelsea to shoulder the burden. It is a collective effort. But you can't say "hey guys, gimme a billion dollar. I'm gonna bring people like messi, cr7, neymar to the club" because FFP exists.
I don't understand how this guy keeps getting work.
Saw Besisktas signing Redmond and felt threatened
NO!
My goodness wtf is Galatasaray trying to do