Abstract:

The football economy has continually grown over the past 20 years, especially with the influence of globalization, and today only the annual revenues of the European football market have reached approximately $29 billion. The return of investments in such a large economy is expected to be in the same size. The most influential factor in football clubs’ revenue from their investments is sports success. In this framework, the financial reports published between 2009-2019 years of the Galatasaray, Beşiktaş, Fenerbahçe and Trabzonspor clubs, which are included in the Turkish Super League and their shares are traded in the BIST 100 index, and the financial performance indicators obtained from these reports have been determined. At the same time, the sports successes of these clubs have been calculated numerically. Panel data analysis was implemented with financial performance indicators for the period 2009-2019 and sports success results were analyzed. The aim of this analysis is to determine whether these clubs, which are considered to be four major in Turkey and their shares are traded in BIST 100, have achieved their sports achievements to create a financial return or not.

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