Beşiktaş Football Investments Co. has signed $75 million credit agreement with a consortium of banks in a ceremony held at the BJK Nevzat Demir Sports Facilities and attended by Beşiktaş Chairman Yıldırım Demirören.    

In addition to Mr. Demirören, Beşiktaş General Manager Fahrettin Curoğlu, Vice-Chairman Responsible for Financial Affairs and Sponsorships Ertunç Soğancıoğlu, Vice-Chairman and Head of Football Committee Serdal Adalı, Football Committee Member Cengiz Zülfikaroğlu, Denizbank General Manager Hakan Ateş, Şekerbank General Manager Meriç Uluşahin and the CEO of Bank Positive Hasan Akçakayalıoğlu were also present at the historical signing event.
The six-year loan has a one-year principal grace period.
During the signing ceremony Chairman Yıldırım Demirören stressed that the said credit was not intended to bring a new loan burden on the club but rather to create a longer repayment period for the club’s existing loans and pay out the expensive ones. The credit will be repaid from the rent revenue generated by the Fulya complex.
Thanking the managers of three banks who placed their trust in Beşiktaş’s reliability, “This credit will not only give our club more financial flexibility but disperse the rumors that rental revenues of Fulya Complex were mortgaged long time ago,” added the Chairman.
According to Denizbank General Manager Hakan Ateş the new credit will strengthen Beşiktaş’s loan structure and minimize its credit risk through longer repayment periods at suitable costs. “Together with Şekerbank, we will contribute $ 30 million each and the remaining $ 15 million will be covered by Bank Positive. Beşiktaş can look into the future more confidently from now on. ”
Şekerbank General Manager Meriç Uluşahin on the other hand, underscored the importance of this agreement, “Today, the Turkish financial sector has finally opened its arms to football. I’d like thank everyone involved, especially the Beşiktaş management. From now, we will be more visible in Turkish sports. Next year, Beşiktaş’s 108th Anniversary, I hope this credit brings them good luck so they go out and win every title in their way, including a prestigious Cup in Europe.” 
The CEO of Bank Positive Hasan Akçakayalıoğlu pointed out to the amount of the credit, “$ 75 million loan for a Turkish sports club is not small sum. Not too many Turkish clubs can get qualified for this type of amount. This deal shows that Beşiktaş has come a long way to become an institutionalized club in terms of banking standards.”
Beşiktaş Vice-Chairman Responsible for Financial Affairs and Sponsorships Ertunç Soğancıoğlu also shared his thoughts: “This is the biggest credit given to a Turkish sports club in this country. The interest rate of the loan is set at only 8.75% so it can not be considered as expensive in any way. We have used our rental income as collateral. Through this loan, we’ll be able to pay our existing, high-cost debts to UEFA. It will also free our hand in upgrading our club to UEFA standards. In short, it will take us to better places.”
Following the speeches, the parties involved have put their hands to the agreement. Meanwhile, Chairman Yıldırım Demirören presented the bank managers with Beşiktaş jerseys and joked, “We got $75 million for these 3 jerseys.”
Then the bank managers gave Mr. Demirören a giant-size check worth $75 million.
The ceremony culminated with a photo session under the legendary Black Eagle stature at the complex.