Galatasaray president Dursun Özbek has confirmed that the club could face a UEFA competition ban for up to two years due to failing to meet Financial Fair Play (FFP) regulations.
Speaking at a press conference at the Türk Telekom Arena Özbek stated that the club exceeded UEFA’s rule of maximum €30 million loss over three consecutive years by reporting €55, €38 and €74 million losses respectively in the 2011-12, 2012-13 and 2013-14 seasons.
Losses reached €100 million in 2014-15 but that figure was slashed to €55 million euros in 2015 under the stewardship of interim president Duygun Yarsuvat who brought in sweeping cuts leaving the club with total debt of €164 million.
Özbek said: “UEFA have warned us that we could face a 1+1 year ban from European competitions but a final decision has not been made. We will hold another meeting in February and argue our case after which the final verdict will be made.”
Galatasaray won the league for a record 20th time last season and are officially the most successful club in Turkey as well as the only side to have won a European trophy – 2000 UEFA Cup.
The Lions have also feature in the Champions League for the past four consecutive seasons as the sole representatives of the Turkish Super League.
The CFCB adjudicatory chamber will reach a final decision regarding Galatasaray’s punishment for failing to meet FFP regulations by the end of February.
UEFA said in an official statement: “The Turkish club Galatasaray has failed to comply with the break-even requirement during the monitoring period assessed in the 2015-16 season. The CFCB [Club Financial Control Body] adjudicatory chamber will take a decision and communicate it by the end of February.”