Besiktas plan to go public

Besiktas JK have announced plans for a public offer of 15 per cent of the shares in the Turkish 1. Lig club.

15 per cent
Chairman Serdar Bilgili said Besiktas had applied to sell 15 per cent of Besiktas Football Investments, but no date or price has been set as the offer depends on approval from the Turkey's Capital Markets Board. Bilgili reckoned February would be an "appropriate" time for the sale, which a financial consultant estimated could be worth more than €17m.

Galatasaray precedent
Besiktas are the second Turkish club to aim at a stock market listing to help raise capital. Istanbul rivals Galatasaray SK already have clearance for a public offering but it has been delayed due to poor market conditions amid Turkey's financial crisis.

Increased capacity
Currently third in the league, Besiktas's major sources of income are domestic and European matches, television rights, sponsorship and merchandising. The club also aims to increase the capacity of its Inönü Stadium in central Istanbul to 37,000 from 22,000 and to invest in its youth training facilities on the outskirts of the city.