3 days Ago
Trabzonspor President Ertuğrul Doğan has unveiled a significant plan to improve the club's financial standing, aiming for a substantial turnaround through a capital increase. Speaking about the initiative, Doğan assured, "Our efforts are shrouded in confidentiality and precision. Once implemented, Trabzonspor will be known not for its debts, but for its revenue and profits.
" The capital increase, which was approved last week, is set to start this month. Doğan confirmed that the club has already paid its share of TL 2.55 billion ($84 million).
"With this funding, we will exit the Bankers' Association agreement this month, eliminating bank loans and financial expenses, which will mark a major improvement in our financial statements," he said. Doğan highlighted two major projects in Istanbul, starting with the acquisition of the 30-year lease for the Kartal land last month. "This milestone allows us to advance our planned projects on the Kartal facilities.
We aim to generate over TL 3 billion in revenue from this project alone," he noted. Additionally, the club is progressing on a substantial real estate venture, maintaining strict confidentiality. In Trabzon, Doğan hinted at upcoming significant projects, aiming to enhance the club's economic stability.
"We plan to execute these projects under our publicly traded company, creating crucial revenue streams. This will solidify our economic framework and increase our positive equity substantially. With these new moves, we expect to resolve issues related to technical insolvency and debt-to-income ratios, meeting UEFA’s financial criteria.
" Doğan expressed confidence in the team's prospects, stating, "The recent coaching change will reinvigorate our squad and quickly bring us into the championship race. Given the tight transfer window, we plan to make key signings during the mid-season. We are committed to taking every step necessary to be contenders for the title.
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