Erdogan Timur: As in Galatasaray, our income should not be shared with anyone

Galatasaray’s new president will take office tomorrow. Erdogan Timur, who is on the list of presidential candidate Dursun Uzbek in Galatasaray and will be responsible for the projects, made a statement to the Demiroren News Agency (DHA). Referring to Galatasaray’s debt of 2.6 billion TL and 2.2 billion of that, Timur said the amount reached 2.6 in 1 year with interest. Erdogan Timur, who said the loans are at variable interest rates, said, “In other words, the TL reference interest is plus 1.5. Even if it goes above 20, it is plus 1. If we consider that the inflation rate in Turkey at the moment is 70 percent, interest even 70. Percent or more. The current interest rate is very low. Despite the low interest rate, we pay 400 million lira interest. It turns out to be 35; when we pay 36 percent interest, it means 1 billion interest per year. The debt that has been 2.2 billion for this will add interest equal to that debt in 2 years. This is an unstable situation. Well, if we sell our current assets. 2.6 billion is enough to pay, unfortunately it is not enough. If we sell in Florida, if we sell in Messiadico, then the revenue from Riva will not be enough. Doesn’t match, “he said.

“We will complete the construction, all the income will keep us”

Explaining the details of real estate, Timur said, “We have 22 vacancies in Florida. To date, the Florida project for 5-6 years has been to build this space with Emlak Konut. Makes millions in Galatasaray, approximately 850 “, but what are the conditions of Emlak Conut? Floria has been properly evacuated. We haven’t emptied before. That’s why we need to build Kemberburgs, at a cost of 300 million lira. It takes 1.5 years to create. 1.5 years. “The annual interest accrued is 650 million lira. Therefore, we have 950 expenses, 800 income. Nothing comes from Florida to pay our debts. We cannot repay our debts with the rest of Mecidiyeköy and our Riva. What should we do? We shouldn’t share it with anyone. Galatasaray doesn’t need Nef or anything else to sell Floria and make Mecidiyeköy. It doesn’t need anyone. We shouldn’t share our income with anyone. All revenue will be left to us. It is our model in all projects. “

“We must leave a legacy for the future. New Riva and Florida land will be purchased with this fund.”

Timur, who said that after this model, the figure of 9.5 billion came to Galatasaray, he said, “When we repay our debt to Galatasaray from here, 6.1 funds remain. This is the most important point for Galatasaray. Because we both need to save. Our debt is out of this interest risk and never again. ” So that the debt does not accumulate. Just to pay off our debts; The one who will repay the loan will be the ‘greatest president’. Still, there is no solution for the future. Again, such a loan would accumulate over a period of 20 years or more. Again, we need to create an asset that does not accumulate debt, that is, the principal. No one can touch it. The number we call 6.1 billion will always be there. There will be black gold coins of Galatasaray. It’s a thing no one can touch. The incoming administration will not be able to spend it, neither this administration nor the next one. Only its income can be spent. It is possible to spend the whole of that income. As one’s wish. This is not a lasting success. If we spend it on transfer, it will not happen. We’ve shared what we’ve done. For example, future resources will be spent on infrastructure, you have it. If we can talk about these today, it is because of the legacy we have left in the past. We must leave a legacy for the future. The funds will be used to purchase new Rivas Florida land. What will happen there will be funding for the amateur branch. Therefore, the number of institutions will be differentiated, ”he said.

“Galatasaray has done nothing to benefit for years.”

“Galatasaray has done nothing to establish itself over the years,” said Erdogan Timur. Lira is needed. This is the board of directors. ” Unfortunately, these projects do not start without money. In short, we have put these projects forward so that it can be done in a highly observable and transparent manner. for the future of Galatasaray. When these projects come to the general assembly, the general assembly will ultimately decide. It is necessary to take the acre. Here, the president’s bail will be required, but the general assembly will give permission for this. In order to get that place out of a general assembly and what the General Assembly wants to do in Mesিডdique, we will appoint an alternative model, the council that wants an independent organization, what will happen if it is rented, what will happen if it is sold. … It will be decided by the General Assembly. However, this model will be written under all the proposals that we will present. Yes, if it is monetized, by what model will it be evaluated? How will the funds be? Who will be the supervisor when these projects are being made? He must be one of the 4 great visitors of the world. We must designate an independent audit firm for each project. We call the Galatasaray presidential system, but first the general assembly system. If the General Assembly gives this power to the President, then the President does not have the power to sign. We are talking about a complete system. If we think that something related to the future of Galatasaray, we can not just list them, write the name of the project and put a number next to it. There are such things. What we will do, how we will do it, what cause-effect relationship, with which model; After doing this, we need to explain how we can transform income into a sustainable system. That is why in all our presentations, in all our meetings, everyone applauds and supports these actions, because we speak them out one by one. Galatasaray’s future is cut short here. He is 6.1 billion; When everything is done, opportunities are created and everything is finished, we will not spend the remaining money in any way, “he said.

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