Dear Galatasaray fans,
We would like to thank you for the great interest and support you have shown to our general assembly by coming together here today. With the support of each of you, we will reach our 25th championship next season and wear the 5th star on our chest. Our goals also include European championships. We continue our planned work for the new season and our transfer processes are being carried out meticulously. You should have no doubt that we will create a strong team by adding the best players to our squad.
Infrastructure and Construction Projects
Our work on the Mecidiyeköy and Kemerburgaz projects continues rapidly. The completion processes of the projects may have taken a little longer, but they are aimed to be completed soon. It should not be forgotten that these projects constitute only a small part of the extensive Florya complex. This process has given us significant experience and among the lessons it has taught us is that in addition to the development of a large area by Galatasaray, the sales process of this area is also important. Therefore, it is necessary to be sensitive in not putting Galatasaray in financial risks.
Financial Status and Advance Request
I would like to provide us with information about the profit that the constructions to be carried out within the scope of the Florya project in 2022 will provide. The amount of profit we initially estimated has been higher than current evaluations. This situation will make a significant contribution to Galatasaray’s financial strengthening. Considering the pressures of the Union of European Football Associations (UEFA), I would like to state that our club is struggling with a negative equity situation and that steps should be taken to correct this situation.
Revenue Sharing and Debt Burden
The advance payment request in the tender specifications for the revenue sharing model is important for Galatasaray to become financially stronger and get rid of its debt burden. Our club needs to close its current debts and be on a more solid financial basis. In this process, it is imperative that our expenses exceed our income in order to close the gap between us and our competitors. Therefore, reducing our debts and strengthening our club’s financial structure is of great importance.
| Project Type | Estimated Income |
|---|---|
| Doing the Construction Yourself | 434 million dollars |
| Revenue Sharing Model | 400 million dollars |
As can be seen, there is a significant difference between the income we will obtain by doing the project ourselves and the income that will be provided by the revenue sharing model. We will choose the most appropriate method by taking into account the risks and returns in making this decision. We expect an input of approximately 12.8 billion TL in this process.
