• Tuesday, November 05, 2024
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Ajax post €9.8m loss amid disappointing season

Ajax-players

Ajax players

Dutch giant Ajax reported a significant financial downturn in its annual financial statement, revealing a €9.8 million loss for the 2023/24 season, compared to a €39 million profit the previous year. The downturn is primarily attributed to reduced bonuses from European competition and lower transfer income.

According to the report, net turnover dropped by €44.4 million (23%), landing at €152 million, largely due to Ajax‘s disappointing European campaign. The men’s team finished fifth in the Eredivisie. It were knocked out of the UEFA Europa Conference League in the Round of 16, capping off a difficult season for the four-time European champions.

Despite high-profile player sales, including Mohammed Kudus and Edson Álvarez to West Ham United and Jurriën Timber to Arsenal, which together brought in over €121 million, total transfer revenues stood at €81.5 million. After amortisation, this left a net transfer result of €31.3 million.

Although the club reduced expenses by €11.4 million—mainly through lower player salaries and decreased merchandise costs—Ajax’s operational loss surged to €39.3 million, a sharp increase from €6.4 million the previous year.

While the men’s team struggled, Ajax’s women’s team had a successful season, reaching the UEFA Champions League quarter-finals and winning the Dutch Cup. However, the financial benefits of their achievements are less impactful than those from the men’s competitions.

Ajax are forecasting another negative financial result for the 2024/25 season due to continued high operating costs and low European revenues. The club is now prioritising expense reductions to safeguard long-term financial stability. Their equity currently stands at €226.4 million.

On the field, Ajax will return to league action away to Heracles on Sunday. With the team currently stuck in fifth place, they may be facing another season without Champions League football.

Head of Sports at BusinessDay Media, a seasoned Digital Content Producer, and FIFA/CAF Accredited Journalist with over a decade of sports reporting.Has a deep understanding of the Nigerian and global sports landscape and skills in delivering comprehensive and insightful sports content.

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