Trabzonspor’s administration under Ertuğrul Doğan officially exited the Bankers Association agreement by making a total payment of 2.7 billion TL.

It has been announced that Trabzonspor has exited the Bankers Association agreement. A statement from the maroon and blue club stated, “Our company does not have any principal or interest debt on loans to banks.”

In a disclosure sent from Trabzonspor Sportif Yatırım ve Futbol İşletmeciliği Ticaret AŞ to Borsa Istanbul and also published on the Public Disclosure Platform (KAP), the following statement was made: “In the framework of the loan agreement known as the Bankers Association restructuring agreement that was signed between our company and the consortium consisting of TC Ziraat Bank, Denizbank, and Türkiye Halk Bank in the 06/2019 period and was restructured in the 03/2021 period prolonging the maturity date until the 05/2030 period, all loans used by our company and related interests have been completely closed. Therefore, our company does not have any principal or interest debt on loans to banks.”

THEY HAD ANNOUNCED BEFORE

Trabzonspor President Ertuğrul Doğan had announced on September 16 that they would exit the Bankers Association agreement. Doğan stated, “With the capital increase process that we received approval for last week, the exercising of rights by our shareholders began as of today. As Trabzonspor Football Inc., we have paid our participation amount of 2.55 billion TL for the capital increase from the first day to exercise our rights.

Upon completion of the process, with the resources we will acquire, as we have mentioned on various platforms before, we will have exited the Bankers Association agreement known in the public this month. Our company, which will become much stronger with zero bank loans and therefore zero financing expenses, will start a significant improvement process in its financial statements.”