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Galatasaray officially ended the credit restructuring process that had been ongoing for years under the umbrella of the Turkish Banks Association (TBB) on Tuesday, July 22.
The club has fully settled all debts and interest payments under the credit agreement signed in 2021 with a consortium comprising of state-run Ziraat Bank and Denizbank, which was extended in 2023 with a maturity date of 2030. In a statement made to the Public Disclosure Platform (KAP), it was announced that all financial obligations under the “Bankers' Association restructuring” had been fulfilled.
Thus, Galatasaray has completed another of its long-term financial obligations ahead of schedule.
The revenue generated from the development project carried out on the Florya Metin Oktay Facilities land—a key training and administrative complex historically used by the club— played a key role in Galatasaray's decision to terminate its credit restructuring ahead of schedule.
According to information provided in the morning, the $50 million advance payment from this project was used to cover all of the club's restructured debts.
With this payment, Galatasaray has fully settled its credit debts due by 2030. These debts were previously restructured under the Turkish Banks Association (TBB) framework agreement, which was introduced to help football clubs manage their liabilities through extended maturities and revised repayment plans.
In particular, the elimination of the interest burden has provided significant relief to Galatasaray’s financial balance. With the conclusion of the long-standing restructuring agreement, the club is now positioned to redirect its revenues toward transfer spending, youth development projects, and administrative initiatives.
Galatasaray is the second club to exit the restructuring program, following Trabzonspor, which became the first team to pay off its restructured debts in September 2024, setting a precedent among top-tier clubs.
As of February 28, 2025, Besiktas holds the highest debt to the Banks Association, standing at ₺4.02 billion ($98.87 million), while Fenerbahce follows with $3.31 billion.
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