Having spoken at the press conference at the Turk Telekom Stadium on Friday, Cengiz said that as long as he runs Galatasaray, he does not extend Terim's contract, which will expire on May 31.
"Fatih Terim is a charismatic [person] and has done very remarkable services to this club which is one of the biggest factors in winning the trophies, but not alone. I thank him for his past services, but as long as I am here, I will never extend his contract," he said.
Cengiz added that there is only one condition to remain with the Turkish manager if Terim apologies and [he] accepts that he was misunderstood over his remarks following the last league match.
Terim previously criticized the Galatasaray chair implicitly for lack of support and his inactive behavior against sanctions imposed on Galatasaray players as the team was battling for the Turkish Super Lig title, a fierce race won by Besiktas on goal difference.