Fenerbahce have dropped a court case against UEFA and the Turkish Football Federation over their exclusion from the Champions League due to a match-fixing investigation, the club said on Thursday.
Fenerbahce, the 2011 league champions, said in a statement to the Istanbul Stock Exchange they were dropping the case at the Court of Arbitration for Sport but gave no further details.
Fenerbahce shares rose more than 5 percent after the announcement.
Fenerbahce were barred from the Champions League because of their alleged involvement in the match-fixing scandal and the club's chairman is among 93 defendants, including leading football officials and players, being tried in a case that has cast a shadow over Turkey's multi-billion dollar league.
The team could be stripped of their domestic title, thrown out of Turkey's top league and forced to play in a lower division, penalties that could cost the club millions.
Chairman Aziz Yildirim, who is still in custody, denies the charges and says the case was specifically designed to undermine the 18-times domestic champions.comments