ISTANBUL (CIHAN) - The Savings Deposit Insurance Fund (TMSF) seized control of the Turkish Premier Division club Istanbulspor on Tuesday from the Uzan family.
Former Istanbulspor chairman Adnan Sezgin was dismissed by the Uzan Family on June 4 and control of Istanbulspor was given to Serdar Öcal, who is acting as a guardian of the Uzan family interest. This development prompted the TMSF to seize the club to ensure that the outstanding credit obligations of the family were met. Officials of the financial police arrived at the club's headquarters in Ataköy and removed the former club directors from the building.
An inspection of the building is still underway.
Previously on February 14, 2004, the TMSF seized 219 companies of the Uzan Group in order to collect outstanding debt owed by the group that totals nearly 7.5 quadrillion TL. The seizures were prompted by the Imar Bank investigations. The confiscated companies include Star TV, Telsim GSM and the Star Newspaper.