Fenerbahçe champions in stock performance

ISTANBUL

The total value of Fenerbahçe has exceeded 1 billion Turkish Liras as of the end of March as the price of Fenerbahçe shares skyrocketed to 40.5 liras. AA photo

Turkish sports club Fenerbahçe’s shares’ performance outscored its archrivals in the stock exchange, by soaring almost 42 percent in the first quarter.

According to figures compiled by Borsa Istanbul, investors of the club have pocketed 41.5 percent in the first three months of the year thanks to pleasing game results yielded in several branches and mounting championship expectations, encouraged by the 10 points the team accumulated to outrank its rival in the Spor Toto Super League.

The total value of the club also exceeded 1 billion Turkish Liras as of the end of March as the price of Fenerbahçe shares skyrocketed to 40.5 liras, gaining value over 40 percent compared to the 28.3 liras of its trading price at the end of 2013.

Therefore, the club’s total value has become more than the total of two of its top rivals Galatasaray and Beşiktaş, which are worth 491 million and 460 million liras respectively.

Both teams have recorded much weaker performances this year, as Beşiktaş shares’ rise remained at 7.3 percent, while Galatasary investors only earned 5.3 percent compared to the year-end.

Fenerbahçe’s stocks rose to over 102 liras in April 2011 amid Fenerbahçe’s push for the league title that season, putting the club’s market price at over 2.5 billion liras ($1.25 billion).

Over 81 rise from bottom

However, the stocks have been struggling since a match-fixing investigation was launched on July 3, 2011, after which Fenerbahçe executives, including Chairman Aziz Yıldırım, were found guilty pending appeal.

Fenerbahaçe stocks had fallen down to 22 liras in September after the Court of Arbitration for Sport (CAS) approved a two-year ban from UEFA competitions given over match-fixing allegations.

Theresore the total rise of the Fenerbahçe shares since the CAS approval has exceeded 80 percent.

Global Investment Strategy Director Gökhan Uskuay highlighted that every year sport clubs’ shares rally before May due to raising championship expectations. He also noted financial constraints limited the increase in shares of Galatsaray in the past two years, despite strong league performance.