While the annual ordinary general assembly meeting of Galatasaray was continuing at the Lütfi Kırdar International Congress and Exhibition Center, ‘Galatasaray Island‘ came to the agenda.
Recently, allegations were made that the Saudi Arabian General Entertainment Authority (GEA) offered 50 million dollars (1.7 billion TL) to the yellow-red club for Galatasaray Island. While the current value of the island was a matter of debate and curiosity, rumors about its sale hit the agenda like a bombshell.
Dursun Özbek, who brought the issue to the agenda at the general assembly, said, “Galatasaray Island belongs to Galatasaray people. It will remain so.” He closed the issue clearly using his expressions.
In the table where the total value of the immovable properties owned by Galatasaray SK was announced as 14 billion TL, Galatasaray Island attracted attention with its value of 1.6 billion TL.
According to the Financial Report announced at the Galatasaray SK Annual Ordinary General Assembly, annual value changes of the real estate owned by the club.
Galatasaray Island was purchased for 150 thousand TL in 1957, with the initiative of Sadık Giz, the 24th President of Galatasaray Sports Club.
DEMOLITION DECISION IN 2017
In recent years, it was claimed that there was illegal construction on Galatasaray Island and therefore a warning was sent to the operator of the Island to evacuate the Island. However, since the Island operator ignored the warning and continued to operate the Island, the officers carried out the demolition of the Island on May 28, 2017.
The island became operational again on June 11, 2022. The opening of the island was one of the election promises of Dursun Özbek, who was re-elected as the President of Galatasaray. The Island was reopened with a ceremony on July 27, 2022.
PARTNERSHIP STRUCTURE HAS BEEN CLEAR
Galatasaray has only one parcel of real estate on the island. One of the other parcels belongs to the Treasury and the club pays premium for this section. The owner of the easement of the third parcel is not specified. This makes the island’s sales process even more complicated. Galatasaray received the title deeds of the parcels of Galatasaray Island located in the National Real Estate from the Beşiktaş Land Registry Directorate in July 2022. Dursun Özbek, who received the title deed of the right to establish the upper use of the parcels of Galatasaray Island in the National Real Estate for 30 years, opened the entire island to the use of the members.
