Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Ali Koç, a member of Turkey’s wealthiest business family, lost control after seven years at soccer club Fenerbahçe, ousted by businessperson Sadettin Saran. Saran became the 38th president of the yellow-and-blue club, winning 12,325 of 24,393 valid votes at the Extraordinary Elective General Assembly.
The CHP has received a brief reprieve from ongoing legal turmoil as a lawsuit seeking to annul its 38th Ordinary Congress—held on November 4–5, 2023—was postponed to Oct. 24. The delay offers the party a short breathing space. Now it is preparing for a new extraordinary congress on Sept. 21 that might address some of the legal challenges it faces. But the crackdown against CHP municipalities is pressing on. In the latest development, Bayrampaşa Mayor Hasan Mutlu became the 12th CHP mayor arrested in Istanbul—and the 18th nationwide—since the crackdown began in October 2024.
The postponement of the decision in the lawsuit to cancel the CHP's 38th regular congress brought short-term relief to the markets. The BIST 100 index gained 5% following the decision. The banking index also gained over 6%. The risk premium reached 261 basis points, the lowest in about six months.