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AFC Ajax Reports €9.8 Million Loss Amid Challenging 2023/24 Season

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AFC Ajax has announced a financial loss of €9.8 million for the 2023/2024 season, a stark contrast to the previous year’s profit of €39 million. The Dutch football club attributes this €48.8 million downturn primarily to reduced earnings from European competitions and lower transfer revenues.

During the 2023/2024 season, Ajax’s men’s team failed to make significant progress on the European stage. They exited the UEFA Europa League in the group stage and were eliminated from the UEFA Conference League during the Round of 16. In the Netherlands’ top league, the Eredivisie, the team finished in fifth place, which secured them a spot in the second qualifying round of the UEFA Europa League for the 2024/2025 season.

Conversely, the Ajax women’s team experienced a more successful season, advancing to the group stage of the UEFA Women’s Champions League, where they emerged as group winners before reaching the quarter-finals. Domestically, they finished second in the Eredivisie and triumphed in the Dutch Cup.

From a financial perspective, Ajax’s net turnover decreased by €44 million, a reduction of 23 percent, amounting to €152 million for the year. Lower merchandise sales alongside diminished European bonuses were significant contributors to this decline. Furthermore, transfer revenue totaled €81.5 million, driven by sales including Mohammed Kudus and Edson Álvarez to West Ham United and Jurriën Timber to Arsenal. The net transfer result, after deducting compensation fees, was €31.3 million.

Ajax projects another negative financial outcome for the 2024/2025 season, prompting additional structural cost reductions to enhance long-term financial sustainability. The club’s equity is currently reported at €226.4 million.

The annual financial report, covering the period from July 1, 2023, to June 30, 2024, has been audited by PricewaterhouseCoopers Accountants N.V., receiving an unqualified opinion on September 25, 2024. However, the annual accounts await approval by the General Meeting of Shareholders, scheduled for December 16, 2024.

Rachel Adams

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