January 7, 2019 / 10:39 AM / 5 months ago

Turkish football club debts will not be transferred to single bank -banking association

ISTANBUL, Jan 7 (Reuters) - The loans of Turkish football clubs will not be transferred to a single bank during their restructuring and all banks will continue managing their loan risks, Turkey’s TBB banking association said on Monday.

TBB is in talks with the chairmen of the country’s top football clubs to restructure mounting debts totalling more than 10 billion lira ($1.87 billion).

The association said the restructuring will be in line with market pricing standards and that the clubs’ income can cover their expenditure. (Reporting by Ebru Tuncay; Writing by Ali Kucukgocmen Editing by Dominic Evans)

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