NEWSLETTER-2019-metin

334 NEWSLETTER 2019 Other advantages of joint stock company structuring are invest- ment and financing facilities. Unlike the structure of associations, a joint-stock company has the ability to invest and to finance its invest- ments as it is a profit-making structure. A football club, moving from the structure of association to the corporate structure, will have the opportunity to provide greater financing to football by evaluating its diversified income as an investment, rather than strictly football, for a certain period of time. The credibility of football clubs, which will diversify their reve- nues through transferring to the corporate structure, notably increases. With the diversification of revenues and the augmentation of guarantee instruments, the loan facility opportunities to be obtained from banks increase, and their conditions become more appropriate. Transparency is both one of the most important conditions of credibility, and one of the most important results. The transparency of football clubs, which increases their credibility, will also be inevitable. Another advantage of the corporatization of football club, whose revenues, investments, credibility and transparency increase, is the increase in the sponsorship diversity at the same ratio. A huge step will be taken towards achieving the success of the football branch, which is the main goal of the football club, increases their sponsorship revenues, and provides diversity in advertising revenues. After the completion of the corporatization, another step that will carry the club further is public offering. Since there will be no public offering in the structure of association, the first step will be taken for a public offering, which will result in substantial incomes for the clubs through the process of incorporation. Structural Advantages The management mechanisms of the associations governed by the charters are also structured as stated in the Law of Associations and in their charters. The faster and more efficient operation of these management mechanisms is also one of the biggest advantages of cor- poratization. The decision-making mechanisms of the football clubs, which fall out of the scope of the Law of Associations and enter into