How Gala Finances Osimhen: Top Earners Had To Leave – Financial Problems Loom

Debts continue to rise

After the end of the transfer window in Europe’s top leagues, Galatasaray pulled off a real coup by loaning Victor Osimhen. The striker, with a market value of 100 million euros, brings with him a net salary of an estimated 9 million to 10 million euros. Shortly afterwards, the Turkish champions agreed with FC Bayern to loan Leon Goretzka, but the player did not agree to a transfer. Goretzka is also said to earn around 9 million euros net – how can Galatasaray, which recently failed to make it to the Champions League playoffs against Bern, afford such players?

In the summer, Galatasaray earned 32.7 million euros from transfers, spent 28 million euros and, due to missing out on the Champions League, the club is missing around 20 million euros. Other income, such as from jersey sales and sponsorship deals, is not enough to cover the financial deficit. Sinan Yener, editor at Transfermarkt Turkey, points out that Galatasaray was said to have had debts of 325.08 million euros in October last year.

After Osimhen transfer: Galatasaray lets some top earners go

The fact that Galatasaray was able to sign a player like Osimhen, who Chelsea and Paris Saint-Germain were interested in, is because the transfer window in Turkey is open until September 13. After his failed move to a top European club, there were disputes between Napoli and the attacker. He had the choice between leaving for a less prestigious league or spending at least five months in the stands. Financially, the loan has no consequences for him, as Galatasaray will cover his salary.

The Turkish Football Federation (TFF) has set spending limits for salaries and transfer fees for each transfer window since 2020. For example, Galatasaray’s limit was 70 million euros in the summer and can be increased with the sale of players. Since this limit had been reached, the only option at the end of the transfer period was to sign new players on loan. For salaries, part of the sum can be declared as a bonus so that it does not flow into the budget set by the TFF. “If a player earns nine million euros a year, for example, clubs can declare this as five million euros, with the remaining four million euros being bonuses,” explains Yener. This is how Galatasaray acted in the case of Osimhen, who officially receives 6 million euros net, and this is how the Lions could have afforded Goretzka for a season.

In addition to the Napoli loan, there are other top earners in the squad such as Mauro Icardi, whose net salary is €6 million. Wilfried Zaha, who joined from Crystal Palace on a free transfer last summer, was loaned to Olympique Lyon due to his €4.3 million salary. Sérgio Oliveira’s contract, which was valid until 2026, was terminated before he moved to Olympiakos Piraeus, for which Galatasaray paid two annual salaries of €2.7 million. In addition, the Brazilian Tetê left the club, who reportedly received €2.6 million. The club is having great difficulty reducing the salary structure.

Not only Galatasaray affected: Many Turkish clubs are in debt

Due to the high expenses, Galatasaray’s debts are growing. “This is of course a big problem. At the moment Galatasaray is not saying anything about it, but one day it will become known,” says Yener. If the club does not manage to cover the missing income from the Champions League through sponsors, the financial problems will probably worsen.

Galatasaray is not the only Turkish club that is heavily in debt. According to information from “AA”, runner-up Fenerbahce had liabilities of €292.54 million. Besiktas (€238.98 million) and Trabzonspor (€157.97 million) are also battling financial problems. These figures are from October 2023 and Yener assumes that the total debt has increased in recent months.