Beşiktaş clarifies Dikilitaş Project finances amid public scrutiny

Beşiktaş has released a statement to address public "information pollution" surrounding the Dikilitaş Project's revenue usage and repayments made to club executives. The club asserts that claims of club funds being transferred to executives are untrue. Instead, they describe the process as a planned financial management strategy designed to protect Beşiktaş from substantial interest costs.

The club's primary plan was to settle its bank debts using advance revenue from the Dikilitaş Project. However, bureaucratic delays in receiving these funds meant the interest on bank loans continued to mount. To counteract this, the board made a strategic decision to redirect approximately 50 million Euros generated from sponsorships with Tüpraş, Beko, and Nike directly towards early repayment of bank debts, bypassing the need to wait for the Dikilitaş advance.

This move successfully relieved the club of significant interest expenses. The remaining loan was then restructured with a five-year term, easing the club's cash flow. While sponsorship revenues were allocated to bank debts, the club also ensured that its daily operational obligations, including transfer payments, personnel expenses, and general club expenditures, were met without disruption.

To manage these immediate needs, board members provided "zero-interest and non-repayable" financing from their personal resources. This executive support ensured the club's operations continued smoothly. Without this financial cushion, a portion of the sponsorship income would have been used for operational costs, preventing the large payment to the Bank Consortium and incurring further interest charges while awaiting the Dikilitaş funds. The board's intervention allowed sponsorship funds to be used effectively, significantly improving Beşiktaş's financial standing and enabling the repayment of the Bank Consortium debt under favorable terms.