Turkish giants pay high fees despite heavy debts

Turkey's four big clubs, Fenerbahçe, Galatasaray, Beşiktaş and Trabzonspor have spent an incredible 200.7 million euros (TL 582 million) in the summer transfer window despite their heavy debts. The total debt of the four clubs is already over TL 2 billion. The teams made record transfers this summer despite the Turkish football clubs being considered "bankrupt," according to the 376th article of Turkish Commercial Code.

Only Fenerbahçe limited their spending, signing just one player. However, the other giants have hard days ahead with heavy payments to be made for expensive new players. They already pay hefty wages to keep their current players on the team.

And it is feared that this may cause a serious financial crisis in Turkish football. Of the four giants, Trabzon has been the most aggressive team in the market. Transferring 18 new players into its squad, Trabzonspor spent 62.2 million euros this summer. The most expensive player to move to Trabzon is Oscar Cardozo, whom the club paid 5 million euros for in transfer fees and 7.5 million euros to the player over his three-year contract.
Kevin Constant, who was transferred from Milan, cost 11.5 million euros including other fees for four years.

On the flip side, Trabzonspor made the most money compared to other clubs by selling a lot of players over the summer. Trabzonspor received 11.2 million euros from the transfers of Olcan Adın, Adrian Mierzejewski and Paulo Henrique. As of May 31, 2014, Trabzonspor, whose equity capital is TL 74.3 million in the red, has TL 240.4 million debt and an annual income of TL 106.9 million. Having hired a new manager this year, Galatasaray spent 79.1 million euros during transfer season. Galatasaray will pay 4.6 million euros to new coach Cesare Prandelli for a two-year contract. Olcay Aydın, who was transferred from Trabzonspor, cost 11 million euros. The club got into 48.7 million euros worth of debt after renewing the contracts of Muslera, Semih Kaya, Selçuk İnan and Burak Yılmaz. Selçuk İnan and Burak Yılmaz are the most expensive players with 14.25 million euros each. Beşiktaş forked out 48.9 million euros this summer. They made a loss of over 143 million euros and their equity capital is minus TL 364 million. Demba Ba costs 16 million euros while Gökhan Töre costs 12.5 million euros.

Beşiktaş will give 5 million euros to Necip Uysal and 5.4 million euros each to Oğuzhan Özyakup and Olcay Şahan over four years in order to keep the players in the team. Fenerbahçe will pay only 10.5 million euros to Diego Ribas during the term of his contract.