Sports
Turkish Süper Lig’s Big 4 rack up $2.5 billion in debt
Türkiye’s four biggest football clubs have accumulated more than TL 108 billion ($2.5 billion) in total liabilities, with Galatasaray carrying the largest debt and Beşiktaş facing the heaviest burden relative to its annual revenue.
Financial statements submitted to Türkiye’s Public Disclosure Platform (KAP), compiled by Anadolu Agency (AA), show that the publicly traded football companies of Galatasaray, Fenerbahçe, Beşiktaş and Trabzonspor had combined liabilities of 108.1 billion liras as of Aug. 31, 2026.
Galatasaray topped the list with TL 34.82 billion, followed by Fenerbahçe with TL 31.1 billion, Beşiktaş with TL 27.95 billion and Trabzonspor with TL 14.23 billion.
Commercial debts, including transfer fees and agent commissions, accounted for the largest share of the combined liabilities.
The clubs also rely heavily on advance payments for future revenue from sponsorships, advertising, season tickets and VIP boxes.
Commercial debts
The four clubs’ combined commercial liabilities stood at TL 43.85 billion, making them the largest category of outstanding obligations.
Galatasaray had the highest commercial debt at TL 16.07 billion, ahead of Fenerbahçe’s TL 13.45 billion, Beşiktaş’s TL 9.77 billion and Trabzonspor’s TL 4.56 billion.
Advance collections for future periods represented another TL 29.49 billion. Galatasaray accounted for TL 8.66 billion of that total, while Fenerbahçe had TL 9.18 billion, Beşiktaş TL 8.05 billion and Trabzonspor TL 3.59 billion.
The clubs also reported TL 12.79 billion in liabilities to employees, public institutions and other parties. Beşiktaş had the largest amount in this category at TL 4.77 billion, followed by Galatasaray with TL 3.61 billion, Trabzonspor with TL 2.77 billion and Fenerbahçe with TL 1.65 billion.
Financial debt, including bank loans, totaled TL 7.68 billion. Galatasaray accounted for TL 5.03 billion and Beşiktaş for TL 2.64 billion, while the reported figures showed no financial debt in this category for Fenerbahçe or Trabzonspor.
Outstanding rental obligations added another TL 7.52 billion, led by Fenerbahçe at TL 6.35 billion. Beşiktaş reported TL 840 million, Trabzonspor TL 210 million and Galatasaray TL 120 million.
Other liabilities, including amounts owed to related parties and third parties, totaled 5.76 billion liras. Provisions accounted for a further 1.02 billion.
Beşiktaş’s highest debt-to-revenue ratio
Although Galatasaray had the largest total liabilities, Beşiktaş carried the heaviest debt burden relative to its revenue.
The black-and-whites reported TL 27.95 billion in total liabilities against TL 12.24 billion in revenue for the 2025-26 season, equivalent to 2.28 times their annual income.
Trabzonspor ranked second, with TL 14.23 billion in liabilities against revenue of TL 6.62 billion, a ratio of 2.15.
Fenerbahçe’s TL 31.1 billion in liabilities amounted to 1.8 times its annual revenue of TL 17.23 billion.
Galatasaray, despite leading the four clubs in total liabilities, had the lowest debt-to-revenue ratio at 1.6. The Istanbul club generated TL 21.75 billion in revenue during the 2025-26 season.
Combined revenue for the four clubs reached TL 57.84 billion, compared with total liabilities of TL 108.1 billion, leaving their collective liabilities at 1.87 times annual revenue.
The comparison uses the clubs’ consolidated balance sheets as of Aug. 31, 2026, and their combined revenue from sales and investment activities for the 2025-26 season. Revenue figures were adjusted for inflation to reflect purchasing power as of the same date.
Future player salaries excluded from total
The TL 108.1 billion figure does not cover all the clubs’ future financial commitments.
Guaranteed salaries owed to players and coaching staff for periods after Aug. 31, 2026, under existing contracts are not included in the reported liabilities to the extent that those payments have not yet been recognized as debts.
However, salaries and other payments already due to players and coaching staff by that date, but still unpaid, are included in the clubs’ existing liabilities.
Turkish boxer Buse Nur Yazan is targeting a gold medal at the Under-19 World Boxing Championships in Montenegro, hoping to turn her European success into a world title and take another step toward her Olympic ambitions.
The 18-year-old Fenerbahçe athlete has already won two European titles, establishing herself as one of Türkiye’s promising young boxing talents.
She claimed gold in the 57-kilogram division at the 2022 European Junior Boxing Championships in Erzurum and added another European crown in the 66-kilogram category at the 2024 European Youth Boxing Championships in Bosnia and Herzegovina.
Yazan most recently won silver in the 70-kilogram division at the European Under-19 Boxing Championships in Loznica, Serbia, in August. After reaching the final, she finished second, gaining valuable experience ahead of her first appearance at the world championships.
She has been preparing for the tournament at the Mediterranean Boxing and Fencing Training Hall in Mersin under national team coach Naci Oral. The championships begin Wednesday in Montenegro and run through Oct. 27.
“My goal has always been to win gold and become a champion,” Yazan told Anadolu Agency (AA). “The previous tournaments have been valuable experiences for me. I am targeting the title at the Under-19 World Boxing Championships, and I hope to represent my country in the best possible way by becoming champion.”
Yazan, who began boxing at age 8, said the demands of competing at the highest level have required significant sacrifices, leaving her with little time for her personal life or family.
“I train a lot, and sometimes I have no social life and can barely see my family,” she said. “I have spent almost the entire year at training camps. I occasionally return home before heading back to another camp.”
Despite the demanding schedule, Yazan remains focused on a long-term ambition that extends beyond the world championships. She hopes to qualify for the 2032 Summer Olympics and eventually win an Olympic gold medal for Türkiye.
“I want to become world champion, qualify for the 2032 Summer Olympics and represent my country in the best possible way there, winning the title,” she said.
Oral said Yazan’s dedication and self-belief had strengthened the team’s confidence in her ability to compete for the world title.
“Buse works hard and believes in herself, and we have complete confidence in her,” he said. “Winning European silver was a good experience for us. Now we want to turn that experience into a gold medal at the Under-19 World Boxing Championships.”
The coach said the team would aim to reach the top of the podium and add a world championship medal to Yazan’s growing collection of achievements.
“Our goal is to reach the summit of the championship and raise the Turkish flag,” Oral said. “We hope to add the world championship medal that is still missing from our collection.”
Fenerbahçe will aim to end their winless run in the UEFA Champions League when they visit Aston Villa on Wednesday, with both teams looking to build momentum in the competition’s league phase.
The Turkish side travel to Villa Park for their second league-phase match after opening their campaign with a 1-1 draw against Roma in Istanbul. Aston Villa, meanwhile, began with a 3-2 victory over Club Brugge and will look to maintain their perfect start in Europe.
Fenerbahçe head into the contest in encouraging domestic form after beating Rizespor 3-0 in the Turkish Super Lig. The victory left Ismail Kartal’s side fourth in the standings with 13 points, while their 19 goals made them the league’s leading scorers at this stage of the season.
Villa have had a more difficult start to their Premier League campaign. Unai Emery’s team drew 2-2 with Brentford in their most recent match, leaving them 15th with five points after six games, having recorded one win, two draws and three defeats.
Despite their domestic struggles, the English side have made a strong start in Europe and will take confidence from their impressive home record in continental competition.
Eight-game jinx
Fenerbahçe have struggled to find consistency in the Champions League, going eight matches without a victory and losing five of them. They have also frequently fallen behind before halftime, losing at the interval in eight of their last 10 matches in the competition.
Their visit to Villa Park presents an opportunity to reverse that trend against an opponent who have won all three previous meetings between the clubs.
Fenerbahçe have played 307 matches in European competitions, recording 122 wins, 68 draws and 117 defeats. They have scored 418 goals and conceded 427.
Wednesday’s fixture will be their 308th European match and their 42nd in the Champions League, where they have won 11, drawn seven and lost 23 of their previous 41 games. The Istanbul club have scored 43 goals and conceded 71 in the competition.
Fenerbahçe are appearing in the Champions League for the seventh time after previously competing in the group stage in 1996-97, 2001-02, 2004-05, 2005-06, 2007-08 and 2008-09.
Their most successful campaign came in 2007-08, when Brazilian coach Arthur Zico led them to the quarterfinals. Fenerbahçe eliminated Sevilla in the round of 16 before losing to Chelsea, who advanced to the semifinals.
This season marks their first appearance in the competition’s expanded 36-team league phase, which replaced the traditional group stage.
Historical advantage
The clubs first met in the 1977-78 UEFA Cup first round, when Aston Villa won both legs to advance. They met again in the 2025-26 Europa League league phase, with Villa claiming a 1-0 victory in Istanbul.
The English club have therefore won all three previous encounters and will seek to extend that record on home soil.
Fenerbahçe have faced English opposition 23 times in European competition, recording six wins, four draws and 13 defeats. Manchester United are their most frequent English opponents, with seven meetings, followed by Arsenal with six.
Fenerbahçe have also faced Aston Villa three times, while their European history includes two meetings apiece with Manchester City, Chelsea and Nottingham Forest, and one against Newcastle United.
Villa’s home form offers another reason for optimism. They are unbeaten in their last 13 home matches in European competition and have won their last 10.
The English side also have recent continental success behind them. They won the 2025-26 Europa League, finishing second in the league phase with 21 points before eliminating Lille, Bologna and Nottingham Forest on their way to the final.
Villa defeated German club Freiburg 3-0 in the final at Beşiktaş Park in Istanbul on May 20 to lift the trophy. They subsequently lost 2-1 to Paris Saint-Germain in the UEFA Super Cup.
Guendouzi available
Fenerbahçe have received a boost with midfielder Matteo Guendouzi cleared to play after a disciplinary decision reduced his suspension.
UEFA’s Control, Ethics and Disciplinary Body initially imposed a four-match ban, including two matches suspended, following the club’s Champions League playoff against Olympique Lyonnais. The UEFA Appeals Body subsequently reduced the effective suspension to three matches, subject to a one-year probationary period.
Guendouzi missed Fenerbahçe’s opening league-phase match against Roma on Sept. 10 but is now eligible to feature against Villa. He is expected to partner N’Golo Kante in central midfield.
The Turkish side will be without Jayden Oosterwolde, who is recovering from an Achilles injury, and Mert Müldür, who has a knee problem.
Forwards Vedat Muriqi and Mason Greenwood have been in strong scoring form, with the pair having combined for 13 goals this season. Both are expected to play important roles as Fenerbahçe look to exploit Villa’s defensive vulnerabilities.
Villa’s injury concerns
Emery will be without several players for the European fixture, including Amadou Onana, Ian Maatsen, Modou Cisse, Leon Goretzka and Brian Madjo, who are all dealing with injuries.
George Hemmings and Matteo Ruggeri are also fitness doubts. If Ruggeri is unavailable, Aaron Wan-Bissaka could be called upon at left-back.
Nicolas Jackson is expected to lead Villa’s attack, while captain John McGinn is likely to operate in a wide position.
Villa will hope their European form can provide a lift after an inconsistent start in England’s top flight. With a home match against Viking and a Premier League trip to Manchester City also approaching, Emery’s side will be eager to collect another three points before a demanding run of fixtures.
Emery prepares for fourth meeting with Fenerbahçe
Wednesday’s match will be the fourth time Emery has faced Fenerbahçe as a coach.
His first encounters came during the 2012-13 Champions League qualifying playoffs, when he was in charge of Spartak Moscow. The Russian side won the first leg 2-1 at home before drawing 1-1 in Istanbul on Aug. 29, 2012, to secure a place in the group stage.
Emery left Spartak later that year before facing Fenerbahçe again with Aston Villa in January 2026, when the English club won the Europa League meeting between the sides.
Germany’s Alexander Zverev is set to finish the season as world No. 1 for the first time in his career after Carlos Alcaraz’s surprise exit from the Shanghai Masters third round on Monday.
The career-first will cap a stellar season for the 29-year-old, the current world number two, after he won the French Open in June and the U.S. Open in September.
The French Open was his first-ever Grand Slam title.
“It’s been a fantastic season for me winning in Paris and New York and knowing that I will finish the year on top of the rankings is just a dream come true,” Zverev said in a statement shared by the ATP Tour website.
“So much work and effort have been put into achieving this goal, especially after coming back from the ankle injury,” Zverev added.
He suffered a career-threatening ankle injury in his French Open semi-final in 2022.
Zverev will be the first German male player to finish his season as top-ranked in the world, and the oldest to lift the trophy, set to be presented in November, for the first time.
Germany’s Angelique Kerber and Steffi Graf have both been the year-end number one women’s tennis player.
Zverev’s achievement comes in a year where the previous two players to hold the top ranking, Italy’s Jannik Sinner and Spain’s Alcaraz, have skipped months of competition due to injury.
Sinner, the current number one, has not competed since Wimbledon, where he beat Zverev in the final. He announced last week his season was over due to a knee injury.
Alcaraz, ranked third, was sidelined for months with a wrist injury from April until the U.S. Open.
Zverev, 6-foot-6 (1.98m), had been destined for the top from a young age, hailing from a tennis family where his mother and father both played the sport to a high level in the former Soviet Union.
But he plays in the shadow of domestic violence allegations made by two former partners, which he has strenuously denied.
The ATP Tour investigated one claim and found insufficient evidence to punish Zverev.
Another led to a 2023 penalty order and fine from a German court, which later dropped the case after a settlement was agreed in June of 2024, hours before he was due to play in the French Open semi-finals.
Turkish champions Galatasaray will host Spanish giant Barcelona Tuesday in the UEFA Champions League, seeking a signature home victory while manager Okan Buruk aims for his 150th win in charge of the Istanbul club.
The Lions enter the fixture looking to recover from a 3-1 opening-match loss at Sporting CP, while Barcelona opened their continental campaign with a commanding 5-1 home win over Feyenoord.
For Buruk, the high-stakes match presents a historical parallel. During his playing career, Buruk came off the bench in the 58th minute on Nov. 23, 1994, to help Galatasaray rally from a goal down to defeat Barcelona 2-1 – the Turkish club’s only historical victory over the Spanish side. Now managing Galatasaray since the 2022-23 season, Buruk holds a 149-29-33 record across 211 matches in all competitions.
“It was very difficult to beat Barcelona in those years as well,” Buruk said. “In 1994, I was on the pitch as a player. Being here as a manager is a completely different feeling. I trust my players implicitly. With the support of our fans, hopefully, we can experience another victory.”
Barcelona arrive in Istanbul in formidable form, holding a perfect 8-0-0 record in La Liga with 24 points and having scored 39 goals across nine official matches in all competitions this season.
Hansi Flick’s side enter the match following a 3-0 league victory over Getafe, featuring goals from Anthony Gordon, Gabriel Jesus, and Jules Kounde. Furthermore, Barcelona has avoided a goalless draw in its last 44 Champions League fixtures dating back to November 2021.
Despite Barcelona’s dominant run, Buruk stressed that his team will not adopt a purely defensive posture.
“We are going to play against one of the most in-form teams in the world,” Buruk said. “We won’t just defend; we will attack as well. We have to consider both together. Against Barcelona, you need to execute your best both defensively and offensively, applying intense pressure regardless of where you meet the opponent.”
Galatasaray midfielder Lucas Torreira echoed his manager’s sentiments on the challenge that lay ahead.
“We are going to compete against what is currently the best team in the world,” Torreira said. “We will try to win the match. We need to be at our absolute best. Our identity will not change. We will defend when we need to defend, and steal the ball when we need to steal it. We step onto the pitch to win every match.”
The Istanbul powerhouse, however, will have to make do without their Ivoirian defender Wilfried Singo, who remains sidelined due to injury.
Meanwhile, 35-year-old midfielder İlkay Gündoğan is available to face his former club, where he scored five goals in 51 appearances during the 2023-24 season.
Barcelona also carry notable injury absentees of their own, with winger Raphinha, Roony Bardghji and defender Andreas Christensen all ruled out. Dutch midfielder Frenkie de Jong has returned to team training after a long-term injury but is not expected to play.
Galatasaray’s recent home record in European competitions offers a foundation for optimism. The Turkish side have lost only once in their last 11 European home matches (7-3-1), dating back to a 3-1 victory over PAOK in the 2024-25 UEFA Europa League.
In Champions League play specifically, Galatasaray have recorded four wins, four draws and two losses in their last 10 home fixtures at RAMS Park.
“Everyone will call Barcelona the favorite,” Buruk said. “But we have a group of players who hold that belief. A positive result against a team like this would elevate our momentum significantly.”
The Champions League match kicks off at 10 p.m. local time (7 p.m. GMT) and will be officiated by Italian referee Marco Guida.
Zizou Bergs defeated Carlos Alcaraz in straight sets at the Shanghai Masters on Monday, halting the former world No. 1’s successful return from a monthslong injury layoff.
The 39th-ranked Belgian beat the second-seeded Spanish star 7-5, 7-6 (7/4) in the third round to land the tournament’s biggest upset yet, and will play either Tommy Paul or Valentin Vacherot next.
“It’s a little disbelief and not feeling too much,” Bergs, 27, said afterward.
“You’re just really in the moment, being focused on the points you have to play,” he added.
“I’ll be very happy.”
Alcaraz started with more quality until Bergs broke the Spaniard’s serve to go up 3-2 in the first set.
The 23-year-old grabbed back that break in the next game but was uncharacteristically off-target, sending a mess of shots into the net.
He double-faulted to hand Bergs a critical break point in the 11th game, and lost the first set when a volley went short.
Alcaraz was visibly frustrated during the second set as he vented to his corner following a series of misfired shots that left him with no points in the fourth and eighth games.
The Spaniard forced a tie-break but could not reach a third set as Bergs closed things out just past the two-hour mark on his first match point.
Fritz fumbles
Earlier, Stefanos Tsitsipas came back to beat Taylor Fritz 3-6, 7-5, 6-3 and earn fourth round meeting with Daniil Medvedev, who brushed aside qualifier Dalibor Svrcina 6-2, 6-3.
A wardrobe malfunction delayed victory for the Greek world number 43 when a tennis ball tumbled out of the American’s pocket a second time and forced the men to replay a match point.
A tired-looking Fritz, seeded 11th, hung on for a bit longer to save the eighth game but could not stick around beyond that, with Tsitsipas holding serve to win at the fifth time of asking.
“I could have done a few things easier, but I ended up being my biggest enemy,” Tsitsipas told the crowd afterward.
“I turned things around really well towards the end and became friends with myself and played some incredible tennis,” he said.
Felix Auger-Aliassime, Casper Ruud and Rafael Jodar also went through to the last 16.
Manchester City defeated Liverpool in their first match since being found guilty of breaching Premier League financial regulations, though the long-term implications of the ruling remain uncertain.
Enzo Maresca’s men are top of the table with six wins out of six after their impressive 3-0 win at Anfield Sunday.
Yet those points could count for nothing unless City are successful in their appeal against the findings of an independent commission that found them guilty of more than 100 breaches of Premier League rules.
No sanction has yet been decided, but the club could face a severe points deduction leading to relegation, or even expulsion from the English top flight.
There is even speculation that City could be stripped of the three Premier League titles they won between 2009 and 2018, the period to which the charges relate.
The Premier League, which has a huge global reach, faces an appeal process likely to drag on for months, putting a question mark against every City result, and with huge potential implications for other clubs.
“We’re sat here not knowing what it means,” likeer Manchester United captain turned pundit Gary Neville told Sky Sports Sunday.
“City supporters will be delighted (with the win), but I don’t think they recognize right now the stain, the stigma and the damage this is going to do to them.”
The BBC’s chief football writer, Phil McNulty, said the team’s impressive win at Anfield had been overshadowed by what was happening off the pitch.
“Every victory, every league table, will come with a metaphorical asterisk until clarity and finality comes,” he said. “No one knows when this will be.”
Andoni Iraola’s Liverpool are ninth in the table, nine points behind leaders City.
But even if Liverpool fail to challenge for the title, the three points lost Sunday could cost them dearly in the battle for a place in the Champions League.
Potential sanctions against City could also have an impact on the battle for relegation.
“That today, what does it mean going forward?” former Liverpool defender Jamie Carragher said on Sky Sports.
“This has to be done before the end of the season. There’s no way this can carry on to the end of the season because we’re all getting kidded.”
Liverpool anger
The Premier League announced late last month that an independent commission had found that City had arranged “sham” deals to artificially inflate revenues and reduce costs by more than 900 million pounds ($1.2 billion) between 2009 and 2018.
Liverpool feel particularly aggrieved, having finished second behind the Manchester club in the Premier League three times in the past 12 years.
City’s rivals believe the Abu Dhabi-backed club’s spending in the 2009-2018 period built the foundations for a golden era that continues to bear fruit.
The Premier League leaders spent around 460 million pounds in the 2026 summer transfer window – a new Premier League record for a single window – as new boss Maresca reshaped the squad following the departure of Pep Guardiola.
One of City’s expensive new signings, midfielder Elliot Anderson, admitted the criticism of the club had galvanized the players as they stepped out at Anfield.
“We’ve got to stick together,” said the England midfielder. “I think it really brings us together. It gives you that determination to come out here, everyone is against you, and turn them over, which we did.”
Anderson and his teammates will have to get used to their new reality as the whole of English football waits for a definitive decision in a case that has rumbled on for years.
As chants, banners, flags and scarves at Anfield showed, City stand accused of cheating their way to the top – and opposition fans will not be silenced.
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