Turkish football coach Fatih Terim is set to embark on a new chapter in his career as he confirms his move to Greek club Panathinaikos, causing a stir as his name has recently been dogged by controversy over a multi-million dollar fraudulent investment scheme involving some of the country’s best-known football stars.
Turkish media reported that Terim will sign a deal with the Greek club on Wednesday.
Terim, who boasts a rich coaching history including successful stints with the Turkish national team and Galatasaray, has recently found himself at the center of a financial scandal. The scandal, referred to as the “Fatih Terim Fund,” involves allegations of a fraudulent investment scheme orchestrated by Seçil Erzan, the former branch manager at Denizbank Levent.
Erzan managed Terim’s financial dealings and allegedly lured investors, including former football stars like Arda Turan and Selçuk İnan, with promises of astronomically high returns, as much as 40 percent a month, using Terim’s credentials to secure their trust. However, the victims were provided with little more than handwritten notes or simple papers as proof of their investments, a stark departure from standard banking practices.
Despite the scandal being named after him and the involvement of his family members and close associates, Terim was not part of the trial that began on November 20. Furthermore, neither Terim nor Denizbank CEO Hakan Ateş was mentioned in the indictment, despite their names being used to facilitate the alleged fraud.
While Erzan admitted to knowing Terim and managing his financial transactions, she denied any wrongdoing in their dealings. Terim’s reaction to the scandal and his statements suggest he had prior knowledge of the unfolding events. Yet, there seems to be a lack of in-depth investigation into his and Ateş’s roles, despite numerous references to their involvement in the victims’ statements.
Terim’s move to Panathinaikos, therefore, comes amid questions and skepticism regarding his involvement in the financial scandal. It remains to be seen how this controversy will affect his new role in Greek football.
Terim’s coaching career has been marked by successes, including 16 titles, such as a UEFA Cup, numerous Süper Lig championships and Turkish Cups. However, his recent involvement in the financial scandal has cast a shadow over his legacy.
If a deal with Panathinaikos materializes, it will mark Terim’s return to coaching after a 24-month break and position Turkish coaches at the helm of both major branches of Panathinaikos, with renowned basketball coach Ergin Ataman already leading the basketball team.
The potential move to Panathinaikos signifies a significant shift for the 70-year-old coach, marking his third international coaching stint.
Terim had previously ventured abroad with Fiorentina and AC Milan after his successful time with Galatasaray.
Terim’s appointment as the head coach of Panathinaikos comes at a time when Greek soccer is marred by allegations of corruption, mafia influence and match-fixing.
The Greek Football Federation (GFF) has been under intense scrutiny, with allegations of corruption and a lack of transparency in its decision-making processes.
Terim’s close ties with Turkish government figures, including President Recep Tayyip Erdoğan, led to speculation about the latter’s recent visit to Greece and mending ties with Athens and whether Terim’s possible venture into the country came up during the Turkish leader’s visit.