Beşiktaş tops growth on European elite clubs’ list

ISTANBUL

Turkey’s Beşiktaş has become the most rapidly growing football team by 52 percent in a year, according to a 2018 index by accounting firm KPMG, which ranked the overall value of most elite European football teams. Manchester United maintained its top spot with more than 3.2 billion euros ($3.77 billion).

The company calculated Beşiktaş’s value at 333 million euros, 3 million euros more than this year’s title winner Galatasaray.

“Taking a look outside of the ‘big fish’ of European football, Beşiktaş JK’s top growth does not go unnoticed, capitalizing on the first full season played in the brand new Vodafone Arena and advancing to the Europa League quarter finals in the 2016/17 season,” the rapporteurs said.

The club, which had won the Turkish league for two consecutive years before losing its seat to its city rival, had finished the Champions League’ group stage with no defeats before bowing to Bayern Munich.

Beşiktaş’s annual growth in local currency reached 86 percent, amid a huge depreciation in the Turkish Lira.

“Despite the same challenges faced in the past to undertake the enclosed analysis — among others, differences in accounting practices across countries, differences in reporting currencies, fluctuation of exchange rates and differences in financial yearends — we trust our report provides a stimulating insight into the European football landscape,” said the report in and introduction notice.

Olympique Lyon followed Beşiktaş with 35 percent annual growth, while third-placed Leicester City grew 29 percent with a value of 596 million euros mainly due to a rise in profit.

The value of Fenerbahçe, the third Turkish club on the list, shrank 9 percent in a year to 319 million euros, the report said.

Manchester United’s overall value increased five percent compared to 2017, beating Real Madrid on 2.9 billion euros and FC Barcelona on 2.8 billion euros.

“We calculate the assets of each club, if they own a stadium for example, the value of the players, but also the value of the brand or image with advertising contracts and their reach on social networks,” said Jacques Boussuge, head of sports advisory at KPMG.

Of the 32 European clubs assessed, Bayern Munich came fourth with 2.55 billion euros, Juventus were ninth on 1.3 billion euros, with Paris Saint-Germain in 11th place, with an estimated value of 1.14 billion euros.

“PSG is progressing ... but it takes time and is limited by financial fair play regulations,” Boussuge said.

In total, the financial value of the 32 clubs reached an estimated 32.5 billion euros, a 9 percent increase on 2017.

“Despite lower than the previous year’s 14 percent growth, the football industry continues its pace, showing for the second successive season an enterprise value increased 9 percent for the top 32 clubs included in our ranking,” the report said.