Fenerbahce’s debt hits staggering $510 million
File photo shows a close-up of the Fenerbahce emblem on the team's iconic yellow and navy blue jersey. (AA Photo)
Fenerbahce‘s audit board member, Mehmet Vodina, on Saturday, revealed that the club’s debt has reached a staggering ₺18.6 billion ($510 million) as of Nov. 30, 2024.
This was announced during a High Council meeting held at the club’s Faruk Ilgaz Facilities in Kalamis.
Vodina, who is a member of Fenerbahce’s Audit Board, mentioned that the audit covers the period from June 1, 2024, to Nov. 30, 2024.
Vodina provided a breakdown of the club’s financial obligations, stating that Fenerbahce’s short-term liabilities amount to ₺11.1 billion, while long-term liabilities are ₺7.5 billion.
The total liabilities combined thus result in the ₺18.6 billion debt figure.
In terms of revenues and expenditures, Vodina also shared that the club’s income for the period was ₺6.47 billion, while the expenses amounted to ₺6.35 billion, leaving Fenerbahce with a net profit of ₺562 million.
Additionally, Fenerbahce announced that the debt resulting from its agreement with the Banks Association, which began 3.5 years ago at €309 million, has been significantly reduced.
The current outstanding amount stands at €82 million, after a €228 million reduction.
