Beşiktaş total debt explained, this will surprise you!

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Updated: August 26, 2017

Beşiktaş‘ debt has been announced to be 1.766.209.342 TL today. A lot of Beşiktaş fans have started complaining that they don’t understand how the debt has risen again since May following two consecutive titles and Champions League football.

However, has the club’s debt really risen these past 3 months? Further examination shows us that this is not the case.

If we look purely at the club’s debt numbers then it has indeed risen since May with 6 milion TL. However, this is without taking into account the club’s receivables. The club had a debt of 1.760.455.388 milion TL, so if we only look at that number the debt has increased with 6 milion TL in the past 3 months.

The club’s receivables were 211.924.177 milion TL in May, making the club’s net debt 1.548.531.211. The club’s receivables now are 243.208.581 milion TL, making the club’s net debt 1.523.000761 milion TL. This means the club’s debt has actually decreased with 25.4 milion TL.

If we calculate the numbers in Euro’s, we come to the same conclusion. The debt was 400.137.263 milion Euro in May. The debt is now 371.508.906 milion Euro. This means the club’s debt has actually decreased with 28.6 milion Euro in the past 3 months.

The debt was 1.262.592.503 milion TL in August 2016 including receivables, so the debt has indeed risen with 260 milion TL in the past year. This number is however very explainable if we look at the exchange rate of the TL. The Euro was worth 3,30 TL last August. Today the Euro is worth 4,09 TL. This means the debt of the club was 381.817.014 milion Euro and the debt has therefore decreased with 10 milion Euro in the last year.

 

Source: bjk.com.tr

Yusuf Paklaci

Yusuf Paklaci

Editor at Beşiktaş International
Living in the province of Utrecht, The Netherlands, where I was born and raised. Student Fiscal Economics at the Erasmus University of Rotterdam. Have been a Beşiktaş fan for many years. Editor at Beşiktaş International since 2015.
Yusuf Paklaci