Shares in Ajax fell by more than a fifth on Thursday after a shock Tottenham Hotspur comeback sent the Dutch football club crashing out of Europe’s Champions League.
A second half hat trick from Brazilian Lucas Moura handed the London side a ticket to the final of club football’s biggest competition, a stunning turnround after Tottenham trailed 3-0 on aggregate at half time.
Ajax shares had been on a run since their March round of 16 triumph over Real Madrid, rising more than 60 per cent.
They hit an all-time high on Wednesday, breaking through the €25 mark, before closing at €23.50, as investors banked on the Amsterdam club pushing through to the final.
But a 96th-minute goal from Moura on Wednesday night put Tottenham through on away goals and sent Ajax’s stock tumbling to trade at €18.40 early on Thursday, a 22 per cent drop from the previous close.
The Champions League exit knocked almost €100m from Ajax’s market capitalisation, which fell from €431m to €337m.
Uefa, European football’s governing body, pays out about €2bn to clubs in the competition, with an appearance in the finals bringing a €15m payout. The winner of the trophy earns a further €4m.
Clubs gain major marketing exposure from playing in, and winning, high-profile European games.
Tottenham will take on Liverpool in an all-English Champions League final on June 1 in Madrid.
Source: FT
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