Turkey’s Super Lig Shakes Up Transfer Market with Record-Breaking Deals
Turkish football
Once considered a final stop for aging stars, Turkey’s Super Lig has transformed into a major force in the global transfer market — even challenging Saudi Arabia’s recent dominance.
Istanbul’s “big three” — Galatasaray, Fenerbahce, and Besiktas — are spending unprecedented sums to lure world-class talent. Galatasaray have made the most expensive transfer in Turkish football history, paying €75 million to sign Nigerian striker Victor Osimhen from Napoli after his loan spell. It is also the fourth-most expensive signing worldwide this transfer window. Osimhen will earn €21 million net annually, while newly signed German winger Leroy Sane will pocket €12 million per year.
Fenerbahce secured Colombian striker Jhon Duran on loan from Al-Nassr, reportedly paying him nearly €20 million per year, while fellow Al-Nassr alumnus Anderson Talisca earns €15 million annually.
Debt and Politics Behind the Glamour
Despite these big-money deals, Turkey’s top clubs are mired in debt. The combined debt of the “big four” — Galatasaray, Fenerbahce, Besiktas, and Trabzonspor — is estimated at over €1 billion. Revenues have consistently fallen short of expenses, with clubs relying heavily on state-backed loans, debt restructuring, and share issues approved by the Capital Markets Board.
Critics argue that the government tacitly supports the spending to distract from economic issues like high inflation and unemployment, a tactic likened to “bread and circuses.” Sports columnist Onur Ozgen and Futbolekonomi.com’s founder point out that fans focus on high-profile signings rather than the financial burden, giving clubs — and by extension, the government — significant political influence.
Controlling the Stands
Fan groups once vocal in anti-government protests, notably during the 2013 Gezi Park demonstrations, have fallen silent in stadiums since the March arrest of opposition figure Ekrem Imamoglu. Opposition MP Mustafa Adiguzel alleges that the government uses club debt oversight as a “reward-and-punishment” tool to ensure fan compliance.
A 2022 law aimed at curbing reckless borrowing exists but has never been enforced, allowing clubs to exceed debt limits without consequence.
Unsustainable Spending
Experts warn the current spending spree is unsustainable. Unlike Saudi Arabia, Turkey lacks oil revenue, relying on debt to fund inflated wage bills in euros and dollars while earning in Turkish lira. With shrinking broadcast revenue and limited matchday income, the gap between income and expenses is widening, raising doubts about how long the boom can last.