The Regulation on the Procedures and Principles Regarding the Exemption of Sports Clubs and Sports Joint Stock Companies from Debt Restrictions

26.12.2022 Melis Uslu
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The Regulation on the Procedures and Principles Regarding the Exemption of Sports Clubs and Sports Joint Stock Companies from Debt Restrictions (Regulation) entered into force following its publication in the Official Gazette dated 22.12.2022 and numbered 32051. Significant amendments introduced by the Regulation are summarized below.

  • The Regulation introduced exceptions to the rule that sports clubs and sports joint stock companies may incur debts up to a maximum of 10% of their gross revenues in a budget year. Accordingly, debts related to the purchase or construction of sports facilities or purchase, establishment of easement rights, leasing of real estate for the construction of sports facilities or the maintenance and repair of these facilities which shall be used in sports activities constitute an exception to this rule.
  • Within the scope of the Regulation, incurring debt is defined as an obligation assumed by sports clubs and sports joint stock companies, and the amount incurred is defined as the difference between the total foreign resources in the financial statements as of the end of the current accounting period and the total foreign resources in the financial statements as of the end of the previous accounting period.


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