Besiktas Leads Stock Market League: Tops Profit Charts in Q1

In the first quarter, among the sports clubs listed on the Borsa Istanbul, Besiktas Football Investments Industry and Trade Inc., whose shares increased by 20%, was the sports company that generated the highest profits for its investors.

According to data compiled by the AA correspondent, the sports index gained 6.8% in the January-March 2024 period.

While the announced balance sheets, transfers, revenues from transfers and sponsorship agreements had a positive impact on the stock market performance of sports companies in the first quarter of the year, financial and financial difficulties and events on green fields had a negative impact on stock performances.

Among the sports clubs traded on Borsa Istanbul, Besiktas, whose shares completed the first quarter of the year with a 20% increase, became the sports company that earned the most for its investors during this period. During this period, the club transferred Norwegian defender Jonas Svensson, Joe Worrall, Ernest Muci and Ali Muhammed Al-Musrati. Besiktas also signed a jersey chest sponsorship with Beko for 3 years.

Galatasaray Football Investments Industry and Trade earned 6.8% for its investors in the first quarter. The club’s performance on green fields and the turn of its balance sheets from loss to profit also had an important share in the rise in Galatasaray’s shares. Galatasaray, which announced a loss of ₺952.3 million in the period of 1 June 2022-31 May 2023, returned to a net profit of ₺34.3 million in the period of 1 June 2023-30 November 2023.

In the first quarter of the year, the shares of Fenerbahce Football Inc. decreased by 6.2%, and the shares of Trabzonspor Football Investments Industry and Trade decreased by 11.8%.

Sports stocks upset investors in March

Shares of sports clubs traded on Borsa Istanbul decreased in March. Last month, Galatasaray made its investors lose 4.1%, Fenerbahce 17.7%, Trabzonspor 17.9 percent, Besiktas 23.9 percent.

Besiktas, which could not make its fans happy on green fields in recent weeks, upset its investors in the stock market. While there was a general downward trend in the shares of Fenerbahce and Trabzonspor in March, this trend continued after the events in the Trabzonspor-Fenerbahce match.

UEFA also banned Fenerbahce from selling tickets to its fans for the next 3 away matches and fined it €80 thousand due to the crowd incidents in the match played against Union Saint-Gilloise in Belgium in the last 16 rounds of the European Conference League.

Besiktas has the highest market value

Besiktas had the highest market value among the 4 publicly traded sports companies. The club completed last month with a market value of ₺12 billion 348 million. Besiktas was followed by Fenerbahce with ₺8 billion 487 million 535 thousand, Galatasaray with ₺7 billion 268 million 400 thousand, and Trabzonspor with ₺3 billion 550 million.

Source: AA / Prepared by Irem Yildiz

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