January 21 – Belgian club Royal Antwerp registered losses of €12 million for the 2023-24 season, remaining reliant on owner and benefactor Paul Gheysens to balance the accounts.
Champions League income was crucial to the Pro League club controlling their budget better, with losses dropping from an unpalatable €43 million in the 2022-23 season.
Antwerp’s revenue rose from €69 million to €116 million thanks to €25 million in bonuses from Champions League participation and lucrative outgoing transfers. On the expenses side, costs rose from €112 million to €121 million, while the wage bill grew from €58 million to €63 million.
It demonstrates how Antwerp remain dependent on Gheysens, whose own real estate business, Ghelamco, is under pressure. Last year’s accounts revealed net debts of €1.34 billion.
Gheysens’ millions have transformed Antwerp into an elite club. Two seasons ago they won the Belgian title as well as the domestic cup, earning a ticket to Europe’s premier club competition.
This season Antwerp are not participating in European competition and their stadium remains incomplete, which means they miss out on ticketing and matchday revenue. Gheysens has previously injected €27 million in cash to reduce the club’s debts.
Antwerp are currently fifth in the Belgian league with 36 points from 22 matches.
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