ANKARA, Turkey (AP) — The president of Fenerbahce, one of Turkey’s leading sports clubs, was taken into custody in Istanbul on Wednesday as part of a widening drug investigation that has ensnared prominent entertainment and media figures, state media reported.
Sadettin Saran, a dual citizen of Turkey and the U.S., was detained just hours after forensic tests detected traces of narcotics in his hair samples, according to state broadcaster TRT.
He had been summoned last week to testify before prosecutors and was sent to a forensic medical facility to provide hair and blood samples.
Since early December, more than a dozen people have been taken into custody as part of an investigation overseen by the Istanbul Chief Prosecutor’s Office.
They include television presenters, journalists, singers, actors and social media personalities. They face charges ranging from drug production and trafficking to facilitating prostitution. Many have undergone blood and hair testing for narcotics use.
Denver-born Saran, who was elected Fenerbahce’s chairman in September, was questioned last week on suspicion of supplying and enabling the use of narcotic substances.
Fenerbahce released a statement expressing its support to Saran and assuring fans that the club’s operations would continue uninterrupted.
“We have full confidence that our president will overcome this process with the same common sense and fortitude he has always shown,” the club said on X. “Our president, Mr. Sadettin Saran, will put these days behind him and continue to work with determination for our club.”
Earlier on Wednesday, Saran issued a statement rejecting the test result, insisting that he had never used the drug in question and pledging to formally request a repeat examination.
Istanbul-based Fenerbahce is one of Turkey’s most popular and successful sports franchises. The club’s former president, Aziz Yildirim, spent more than a year in jail in 2012 on match-fixing charges, before being acquitted when a new trial found the earlier case had been influenced by corrupt judges, prosecutors and police officers.
The club has also found itself caught up in a separate investigation into illegal betting and match-fixing across Turkish soccer. Fenerbahce also has teams that compete in basketball, volleyball, athletics and swimming, among other sports.
FILE - Fenerbahce fans celebrate the win of their team during the Europa League group B soccer match between AEK and Fenerbahce at AEK arena stadium in Larnaca, Cyprus, Oct. 13, 2022. (AP Photo/Petros Karadjias, File)
NEW YORK (AP) — US stocks drifted higher to more records on a holiday-shortened day of trading. The S&P 500 rose 0.3%. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite edged up 0.2%. Markets closed early for Christmas Eve and will remain closed for Christmas Thursday. The S&P 500 is up more than 17% this year, driven by optimism about artificial intelligence and deregulatory policies. Investors focus is on the U.S. economy’s direction and Federal Reserve interest rate policy. Unemployment claims fell last week, indicating a still-healthy labor market. Dynavax Technologies soared after French pharmaceutical company Sanofi said it would buy the vaccine maker.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — Wall Street slightly higher in midday trading Wednesday as markets hovered near record levels on a holiday-shortened trading day.
The Dow Jones Industrial Average was up 0.4% as of 11:15 a.m. Eastern. The S&P 500 index was up less than 0.2% and the Nasdaq Composite was down 0.1%.
Markets will close at 1 p.m. ET for Christmas Eve and are closed for Christmas. Markets will reopen for a full day of trading on Friday, however volumes are expected to be light this week with the holiday and most investors having closed out their positions for the year.
The S&P 500 is up more than 17% this year, as investors have embraced the deregulatory policies of the Trump administration and been optimistic about the future of artificial intelligence in helping boost profits for not only technology companies but also for broader Corporate America. The biggest performers this year include Nvidia and Micron Technologies, both companies that make chips or other components that power the proliferation of data centers across the country.
Much of the focus for investors for the next few weeks will be on where the U.S. economy is heading and where the Federal Reserve will move interest rates. Investors are betting the Fed will hold steady on interest rates at its January meeting.
The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend in the face of ongoing inflation. There have also been recent reports showing shaky confidence among consumersworried about high prices. The labor market has been slowing and retail sales have weakened.
The number of Americans applying for unemployment benefits fell last week and remain at historically healthy levels despite some signs that the labor market is weakening.
U.S. applications for jobless claims for the week ending Dec. 20 fell by 10,000 to 214,000 from the previous week’s 224,000, the Labor Department reported Wednesday. That’s below the 232,000 new applications forecast of analysts surveyed by the data firm FactSet.
Dynavax Technologies soared 38% after Sanofi said it was acquiring the California-based vaccine maker in a deal worth $2.2 billion. The French drugmaker will add Dynavax’s hepatitis B vaccines to its portfolio, as well as a shingles vaccine that is still in development.
Novo Nordisk shares rose 2% after the weight-loss drug company got approval from U.S. regulators for a pill version of its blockbuster drug Wegovy. However, Novo Nordisk shares are still down almost 40% this year as the company has faced increased competition for weight-loss medications, particularly from Eli Lilly. Shares of Eli Lilly are up 40% this year.
European markets were moving slightly between slight gains and losses. Asian markets were also quiet, with Hong Kong moving up 0.2% while Japan’s Nikkei 225 fell 0.1%
Both gold and silver futures were higher, with silver prices rising more than 1%. U.S. crude oil rose 0.4% to $58.61 a barrel.
Derek Orth works on the floor at the New York Stock Exchange in New York, Wednesday, Dec. 10, 2025. (AP Photo/Seth Wenig)
A board above the trading floor of the New York Stock Exchange displays the closing number for the Dow Jones industrial average, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)
Anthony Matesic works on the floor at the New York Stock Exchange in New York, Wednesday, Dec. 10, 2025. (AP Photo/Seth Wenig)
A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Dec. 22, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
FILE - A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig, File)
A person walks in front of a chart showing Japan's Nikkei index at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
