October 18 – AFC Ajax has reported a significant financial downturn in their annual financial report, posting a €9.8 million loss for the 2023/24 season compared to a €39 million profit the previous year – primarily due to reduced European competition bonuses and lower transfer income.
The club’s report shows that net turnover fell by €44.4 million (23%), settling at €152 million, largely because of the club’s disappointing European run, with the men’s team finishing fifth in the Eredivisie and exiting the UEFA Europa Conference League at the Round of 16 in a season to forget for the 4-time European Champions.
Despite key player sales like Mohammed Kudus and Edson Álvarez to West Ham United and Jurriën Timber to Arsenal (totalling more than €121 million), transfer revenues stood at €81.5 million, leaving a net transfer result of €31.3 million after amortisation.
Although expenses were reduced by €11.4 million, primarily through lower player salaries and reduced merchandise costs, Ajax’s operational loss swelled to €39.3 million, up from €6.4 million the previous year.
The club’s women’s team, however, had a brighter season, reaching the UEFA Champions League quarter-finals and winning the Dutch Cup, although that doesn’t hold the same financial weight as success for the men’s team.
Ajax is predicting another negative financial result for 2024/25 due to high operating costs and fewer European revenues. As a result, the club is focusing on cutting expenses to maintain long-term financial stability. Equity now stands at €226.4 million.
On the pitch, Ajax return to league action away to Heracles on Sunday. As things stand, they could be destined for another season outside of the Champions League, with the club currently stuck in fifth.
Contact the writer of this story, Harry Ewing, at moc.l1729275494labto1729275494ofdlr1729275494owedi1729275494sni@g1729275494niwe.1729275494yrrah1729275494