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The "Kıtalar Arası Derbi," as matches between Fenerbache and Galatasaray are called, involves, as you probably know by now, the two most successful teams in Turkey.
Here's a breakdown of the history of the rivalry as presented by FIFA.com.
In 1905 on the European side, pupils from the French high school in Galatasaray famous for educating the political classes decided to form a football team to take on Greek and English clubs. Ali Sami Yen was behind the project and went to become a legend at the club, with the stadium now bearing his name.
Thus it was that in 1907, on the opposite bank of the Bosporus, Fenerbahce were founded in the Kadikoy area of the city. The club was formed in secret and remained so for the first few years, given Sultan Habdullamid II's unfavourable stance on gatherings involving young people.
The rivalry between the two teams reached another level in February 1934. What was meant to be a friendly turned into a pitched battle with players and supporters involved. Relations between the clubs have never been the same since then, making the derbies win-at-all-costs affairs.