Trustee appointed to football club amid Can Holding probe

ISTANBUL

Istanbul authorities have appointed a trustee to Kasımpaşa Football Club as part of an ongoing investigation into Can Holding and its affiliated companies, amid suspicions of organized financial crimes and money laundering.

Conducted by the Istanbul Chief Public Prosecutor’s Office, the investigation found that the corporate structures of Can Holding, which owns several TV channels, and Ciner Group, the former owner of the media networks, were used to facilitate organized criminal activity and conceal illicit gains.

In addition to companies already under trusteeship, authorities identified 18 more active companies across the two groups.

An Istanbul court ruled that the management of these companies, including Kasımpaşa Football Club, should be transferred to the Savings Deposit Insurance Fund of Türkiye (TMSF).

The football club is owned by prominent businessman Turgay Ciner, against whom Turkish prosecutors on Sept. 28 issued an arrest warrant as part of the probe.

Other companies affected by the trusteeship include both Can Holding subsidiaries and Ciner Group companies under Park Holding.

On Sept. 11, Istanbul prosecutors carried out operations against Can Holding and 121 affiliated companies, including media outlets Habertürk and Show TV. The investigation later expanded to Ciner Group with 12 new detentions on Sept. 29.

In the ongoing probe, Kemal Can, accused of founding and leading the organization, was jailed pending trial on charges of establishing and managing a criminal organization and concealing the sources of assets.

Kenan Tekdağ, head of the Can Holding media group, was released under house arrest.