$14 Million Transfer From Papara to Trabzonspor President Sparks Questions

Documents reveal that Ahmed Faruk Karslı, the owner of Papara — a digital payments company recently named in an illegal betting investigation — transferred 475 million Turkish lira (approximately 14 Million Dolars) to Trabzonspor President Ertuğrul Doğan.

In his official statement, Karslı claimed: “We were partners in a company holding mining licenses, but I don’t remember its name.”

The transfer, and the vague explanation involving an unnamed company, has fueled questions about the financial ties between Papara and the football club.

According to information shared by journalist Murat Ağırel on X and during a broadcast on Onlar TV, the company has been under scrutiny amid allegations of laundering illegal betting revenues. The latest report on Papara reveals an unusually large financial transaction that has attracted public attention.

Official records show that on September 27, 2024, Karslı sent 475 million TL to Doğan’s account.

The transaction note read “payment for shares.” In his testimony, Karslı explained: “Ertuğrul Doğan is my partner in a company holding mining licenses — I can’t recall its name — and I sent the payment as a share purchase.”

Papara’s Sponsorship Ties With Trabzonspor Under Scrutiny

Papara became the official jersey and stadium naming sponsor of Trabzonspor in 2023. Following that agreement, the revelation of a high-value private transfer between Papara’s owner and the club’s president has raised new questions about the nature of their financial relationship.

Finance and sports law experts note that it is “unusual and worthy of further examination” for a financial institution being investigated for illegal betting activities to make such a large payment to a football club president.

Karslı: “It Was a Donation or Share Payment”

According to the statements included in the documents, Karslı described his major financial transactions as “donations,” “share payments,” or “partnership contributions.”

However, the report also highlighted that no official documentation could be found confirming the existence of these alleged partnerships.

The 475 million TL transfer to Ertuğrul Doğan was similarly justified as a “company partnership payment,” yet no concrete evidence or supporting documents have been provided.

Papara Examined in Illegal Betting Probe

Reports by the Cybercrime Department of the Turkish National Police allege that Papara accounts were used to transfer illegal betting proceeds.

Between 2020 and 2024, several large transactions were reportedly flagged to Turkey’s Financial Crimes Investigation Board (MASAK) as “suspicious financial activities.”

Papara’s founder, however, has denied all accusations, stating:

“We have no connection whatsoever with illegal betting sites. Papara is merely a preferred payment tool.”

Calls for Transparency Grow

Papara’s ongoing sponsorship deal with Trabzonspor has once again come under public scrutiny following the revelation of the 475 million TL transfer.

Public debate has intensified over the need for greater transparency in financial relations and sponsorship agreements involving sports clubs. As of now, Trabzonspor has not issued an official statement regarding the transaction or the ongoing investigation.