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Reigning champions Galatasaray were the only one of Turkiye's four publicly traded major football companies to finish the 2025-26 financial year with a profit, while Fenerbahce, Trabzonspor and Besiktas all reported losses, according to financial statements released by the clubs.
The Yellow-Reds recorded a ₺608.7 million ($12.8 million) net profit, reversing a ₺1.2 billion loss in the previous financial year, while its archrival Fenerbahce posted the largest net loss at ₺4.2 billion, compared with ₺991.7 million a year earlier.
Besiktas reported a ₺1.3 billion net loss, down from ₺1.7 billion, while Trabzonspor recorded a ₺2 billion net loss, slightly narrower than its ₺2.1 billion loss a year earlier.
The four companies drew income from broadly similar sources, including matchdays, broadcasting, sponsorship, merchandise and UEFA competitions, although the importance of each stream varied considerably.
Galatasaray generated the highest total revenue at ₺20.7 billion, followed by Fenerbahce at ₺13.6 billion, Besiktas at ₺7 billion and Trabzonspor at ₺4 billion.
For the Lions, football income was supplemented by ₺6.2 billion from officially licensed merchandise sales. VIP, box and season-ticket sales generated ₺5.2 billion, while sponsorship and naming rights brought in ₺4.8 billion and UEFA competitions contributed ₺3.1 billion.
At Fenerbahce, licensed merchandise was the largest individual source at ₺4.3 billion, followed by ₺3.7 billion from sponsorship, advertising and naming rights and ₺3.2 billion from stadium operations.
For Besiktas, UEFA income fell sharply to ₺126.6 million from ₺669.8 million a year earlier, while Trabzonspor generated about ₺1.4 billion from sponsorship and advertising and another ₺1.2 billion from merchandise sales.
The four clubs spent heavily to keep their football operations running, with Galatasaray spending ₺19.9 billion, followed by Fenerbahce at ₺19.1 billion, Besiktas at ₺12.7 billion and Trabzonspor at ₺6.8 billion.
Player salaries made up the biggest share of the bill, led by Fenerbahce at ₺9.7 billion, followed by Galatasaray at ₺8.1 billion, Besiktas at ₺6.4 billion and Trabzonspor at ₺3.3 billion.
The clubs also faced major squad-related costs, including transfers, loans, coaching, travel and merchandise, which reached ₺2.5 billion at Galatasaray, ₺1.5 billion at Fenerbahce, ₺1 billion at Besiktas and ₺517.4 million at Trabzonspor.
The Yellow Canaries recorded ₺425.6 million in fines and deductions, ₺432.7 million in taxes, duties and fees and ₺571.0 million in player-agent fees, while the Black Eagles spent ₺1.3 billion on player transfers and loans, ₺288.3 million on agents and ₺231.7 million on legal, court and notary costs, as well as ₺108.8 million in fines.
Besiktas also spent ₺280.3 million on match-related costs and ₺222.9 million on travel, while foreign-exchange losses from football operations reached ₺1.4 billion, adding to the club's overall financial burden.
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