Adnan Polat: ‘Galatasaray’s Debt is Around 70 Million Dollars’

Former Galatasaray President Adnan Polat stated that they aim to announce the tender for the Florya land at the beginning of November. The Annual Ordinary General Assembly Meeting of the Galatasaray Sports Club continues at the Lütfi Kırdar International Convention and Exhibition Center.

Speaking about the Florya land during the meeting, Adnan Polat expressed gratitude for being elected as the commission chairman and for the confidence shown by the Galatasaray boards. He mentioned, “Our work has focused on completing the tender file. There was a narrow road between the two parcels, which has been decided to be removed to combine the parcels. Our intention here is to make an announcement at the beginning of November. We will have the tender file completed 100%. We are planning to go public at the beginning of November. We will give a one-month period to those who acquire the file. During this time, the relevant firms will come and submit their bids. The bids will consist of two envelopes within one file. The first envelope will need to contain documents complying with the tender specifications. We will review those. If there are deficiencies, we will give one week for corrections. Afterwards, all bids will be invited in the presence of the commission, and the second envelopes will be opened. We will identify the bids, and we will choose the best among them and thank the others. We will ask those we find suitable to provide us with their final amounts through an auction process. It is essential that the firm has the capacity to undertake this project. The minimum revenue share they will provide us is crucial, as well as our total minimum amount and the advance payment they will offer.

Galatasaray has a debt of around 70 million dollars, so the advance payment amount is very important.

The duration of construction and the offers given must be from firms that have financial, administrative, and technical qualifications, along with a solid track record. These firms should also have brand value. The firm that wins this tender will present a concept project related to this, and after a joint decision on that project, the architectural project will be finalized, and engineering projects will be completed. Preparing the specifications and obtaining the necessary permits will take a minimum of eight months, in my opinion. We will obtain our permit by September 2025 and will be ready to start the project. Galatasaray’s Florya, especially with the newly acquired 41 acres, is a salvation project for Galatasaray. We will eliminate Galatasaray’s debts, and it will be a project that creates significant resources within the club. We will create and evaluate that resource fund. We have no setbacks; we are following certain bureaucratic processes. I hope this will be beneficial for Galatasaray. Support the Galatasaray management during this period. The fifth star is very important. I see that we are under attack from all sides. We can overcome all these challenges. How? By being united and standing together.”