Sport Republic, the owner of Premier League club Southampton, has purchased a 70% controlling stake in the Turkish second-tier club Göztepe, the club confirmed Friday.
The purchase made Sport Republic the first foreign investor in Turkish football.
The existing shareholders of Göztepe will retain a 30% stake in the club, which was relegated from the top flight last season.
Sport Republic’s co-founder Rasmus Ankersen, who visited Türkiye to continue negotiations, has been appointed the club's new chairman.
"Being the first foreign investors in Turkish football comes with extra responsibilities and attention," said Rasmus Ankersen, CEO of Sport Republic and the newly appointed Chairman of Göztepe.
"We know it will not be without challenges, but we are committed to our long-term vision of fulfilling the potential of Göztepe."
Having bought an 80% stake in Southampton this January, the London-based investment firm is building a portfolio of high-influence stakes in football clubs that operate similarly to the Red Bull franchise or the City Football Group.
Sport Republic was co-founded by Henrik Kraft and Rasmus Ankersen, Brentford’s former co-director of football. Serbian-born businessman Dragan Solak, who is the founder of alternative telecom provider United Group, is the lead investor.
"We are very excited to announce our investment into Göztepe S.K. and add the club to the Sport Republic family. We have been working on this for a long time and are very pleased that it was possible to come to an agreement.
"The ambition of all of us at Sport Republic is to build a portfolio of high-influence stakes in football clubs and other sporting assets across the world and then use our wider portfolio of sports technology businesses to accelerate the development of those companies. We can’t wait to get started and begin implementing our strategy with Göztepe," Kraft said.
The Athletic reported in June, that Sport Republic was also interested in acquiring teams with the potential to play in the top flights in Belgium, the Netherlands, Portugal and Turkey.
With these leagues considered "band two" competitions – below Europe’s top five leagues – it helps for the purposes of gaining FA approval when signing players from there, according to the The Athletic.
Mehmet Sepil, who was formerly the majority shareholder of Göztepe, said: "We are delighted to welcome Sport Republic’s investment in Göztepe. This marks the beginning of a new chapter in Turkish football with Sport Republic becoming the first foreign investor in football in our country.
"With Sport Republic’s experience and global presence, Göztepe will be more than a showcase team competing at the highest level. It will be a team that develops young talent, competes with homegrown talent playing side by side with international players, and becomes a conduit for Turkish players for their international careers," he added.