Who Is The Financial Performance Leader of Sports Clubs? An Empirical Application With the Aras Method

The competitive environment and income created by the sports sector are on the rise due to its rapid development and its global performance concerning other industries. Thus, researchers and market participants must assess how well sports clubs are performing in the sector. For the aforementioned reason, the goal of the research is to evaluate the sports clubs that are part of the BIST Sports Index according to their financial performance and ascertain if these rankings vary by club year. To accomplish that, the 13 criteria (ROA, gross profit margin, operating profit margin, net profit margin, current ratio, cash conversion period, PD/DD, EBITDA / total financial expenses, fixed asset turnover days, working capital/sales growth rate, ROIC, receivables turnover days, doubtful trade receivables ratio) were weighted with the CRITIC method when analyzing the financial performance achievements of these sports clubs between 2018 and 2022. The research yielded varying results depending on the year. However, Beşiktaş Sports Club demonstrated the best financial performance in 2018 and 2020, followed by Fenerbahçe Sports Club in 2021 and Galatasaray Sports Club in 2019.