Turkish football clubs, particularly the 'big three' in Istanbul—Galatasaray, Besiktas, and Fenerbahce—are increasingly facing financial challenges despite efforts to attract top international talent. These clubs have collectively lost nearly £445 million in the past four years, a financial situation exceeded only by the Premier League, Saudi Pro League, and Serie A.
This trend is highlighted by the potential transfer of Mohamed Salah to Besiktas, a move that experts warn could place a significant financial burden on the club. Reports suggest Salah is seeking a wage of £10.7 million per year, plus additional bonuses and revenue from shirt sales. While fan reception for new signings can be overwhelmingly positive, with thousands greeting players like Victor Osimhen upon arrival, this initial enthusiasm may not sustain if performance falters.
Ahmet Turgut, host of the Turkish Football Podcast, expressed concern over the clubs' financial management, stating that they are "not managed by professionals" in the same way as their European counterparts. He noted that the constant pursuit of championships leads to significant financial problems, with money often wasted on transfers.
Players like Osimhen, who joined Galatasaray for a reported Turkish transfer record of £64.1 million, are offered weekly salaries around £300,000, a figure surpassed in Europe only by a few Premier League stars. Osimhen himself described his move as a "love story," enjoying a hero's welcome with thousands of fans present at his arrival.
The appeal for players extends beyond financial incentives. Istanbul offers a vibrant lifestyle, with luxury accommodations and world-class dining, including establishments like Salt Bae's Nusr-Et restaurant, which offers dishes coated in gold. Galatasaray has even invested in a private island for players' relaxation and leisure.
However, the intense passion of Turkish football fans can turn negative if players do not perform. Kaan Bayazit, host of the Black Eagles podcast, cautioned that fans can become "toxic" if high-earning players fail to meet expectations, referencing the experience of Alex Oxlade-Chamberlain at Besiktas, who struggled with injuries and managerial changes.
Despite the significant investment in players, Turkish clubs have seen limited success in European competitions. In the 21st century, they have only advanced from the Champions League group stages four times, with Galatasaray reaching the quarter-finals in 2001 being the most recent deep run. Besiktas reached the Europa League quarters in 2016-17, and Fenerbahce made the Conference League last eight.
Galatasaray has made substantial investments in its infrastructure, including a new training facility and facilities on a private island. Besiktas is also planning a new training ground, despite current debts of around £387 million, which the club hopes to offset through a real estate project. Fenerbahce also saw former manager Jose Mourinho housed in a luxury hotel for 16 months at a cost of £656,000.
The clubs' financial structures, often subject to two-year election cycles for leadership, are seen by some as a fundamental problem, potentially leading to financial instability or acquisitions by external parties.