scarvesTURKEY’S leading football clubs enjoyed the highest growth rates in their share price in 2016, reveals the latest paper from KPMG’s Football Benchmark.

Against the odds, Turkey’s Borsa Istanbul grew by TL 42.6bn (USD 118m) in 2016. There is some correlation between Turkish market growth and the performance of the country’s top clubs.

Trabzonspor’s share price rose by 124% in 2016 to TL 2.84, while Besiktas was up by 85.2% and Galatasaray by 82.8%. Fenerbahce increased by just 4.8%, largely due to the club being penalised by UEFA under the Financial Fair Play regulations.

KPMG pointed out that in some cases, performance on the field of play is mirrored in the stock price. Manchester United, for example, suffered a 20% drop as they missed out on UEFA Champions League football.

The day of the football club IPO seems to have passed. Only 22 clubs are listed on the STOXX Europe Football, and only one – Celtic – comes from Britain. The index has risen by around 20% over the past year, although has started 2017 in lack lustre fashion.

To see the full report from KPMG, click here