Ajax presented its half-year results on Wednesday evening. The Amsterdam team achieved a net profit of 27.2 million euros in the first part of the season, but expect to have to write red figures at the end of the football season. VoetbalPrimeur zooms in on the most interesting and striking things from Ajax’s half-year report.
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Despite spending more than 110 million euros on player transfers last summer, Ajax made a net profit of 27.2 million euros in the first half of the season. According to the Amsterdam team, this is due to ‘the sale of players at the start of this season’. Later the club explains that Edson Álvarez, Mohammed Kudus and Jurriën Timber brought in this money. The three together generated a rough 120 million euros. In addition, a number of things stand out in the semi-annual report.
Missing out on the Champions League is palpable
Ajax’s net turnover has fallen by no less than 32 percent compared to a year ago. According to the Amsterdam management, this has a strong connection with missing out on Champions League football. In the first half of the season, Ajax reached the group stage of the Europa League for the first time in a long time. It is known that the fees in that tournament are a lot lower than in the Champions League. In total, Ajax had a turnover of 81.9 million euros in the first half of the season.
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Ajax is counting on another year without Champions League football. With a view to next season, the management has compared various scenarios. In the best case-scenario Ajax is counting on participation in the group stage of the Europa League. In the worst case-scenario the Amsterdam team will not be active in Europe at all next season.
Due to the defeat at AZ, Ajax can also forget about participation in the preliminary rounds of the Champions League
Ajax borrows 20 million euros
In the half-year report, Ajax confirms that it has taken out a loan of twenty million euros, following an earlier announcement by financial director Susan Lendrink. Lendrink initially did not want to reveal the amount involved, but it is now clear how much Ajax will receive via a credit facility. The collateral that Ajax has provided is a transfer fee. The North Hollanders are struggling with a temporary bank account deficit in the second half of the season. With the loan of twenty million euros, Ajax covers this deficit, so that the club can ‘normally’ finish the season.
More clarity about the amounts for Henderson and Rijkhoff
In the half-year report, Ajax also commits amounts to the arrival of Jordan Henderson and Julian Rijkhoff. The duo came to the Johan Cruijff Arena during the winter transfer period. Ajax reports that it has entered into ‘investment commitments’ of 9.95 million euros to acquire the two. It is not clear what exactly that amount consists of. It appears that Henderson’s salary is included in that sum, as the Englishman was signed on a free transfer.
On the other hand, Stanis Idumbo Muzambo and Anass Salah-Eddine left Ajax in January. The Conference League participant announces that it will receive 700 thousand euros for the duo, who mainly played in Jong Ajax.
Mislintat still achieves one of his targets
It was one of his goals that the German openly shared when he came to Amsterdam: Sven Mislintat had to reduce salary costs. The half-year figures show that the now departed director has succeeded in this. The cost item ‘wages, salaries and social security contributions’ has decreased by 6.7 million euros, resulting in a total of 44.5 million. Ajax writes that this is ‘mainly’ due to a decrease in ‘football salary costs’.
Ajax confirms that the fixed costs of player salaries have been reduced under Mislintat’s regime. The current number five in the Eredivisie points to ‘changes in the player group’ as the first reason for this. For example, several top earners left last summer, including Dusan Tadic. In addition, the salary system introduced by Mislintat, whereby players have their salaries reduced if Ajax does not achieve Champions League football, also influences the decrease.
Promissory notes received, waiting for Shakhtar money
In its previous annual report, Ajax reported that it was still entitled to part of the transfer fee of Quincy Promes, who left for Spartak Moscow in January 2021. Now the Amsterdammers reveal that the full amount was paid by Spartak, without mentioning the name of the convicted footballer. Ajax will still receive money from Shakhtar Donetsk, following the transfers of David Neres and Lassina Traoré: a total of 6.8 million euros is still outstanding. The residents of the capital have already received 4.4 million of that amount via a Ukrainian bank.
Ajax shirts sell much worse
The half-year figures also show that Ajax shirts and other fan items are not exactly popular among fans this season. Merchandising turnover has fallen by 5.2 million euros. The record champion states that ‘sales are lower’ and points to the timing of the sale of the away shirt. Just before the end of the 2022/23 season, Ajax launched the white uniforms. Two days later, the club lost its last match of the inglorious season at FC Twente (3-1).
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Ajax can quickly provide clarity: Mislintat research in ‘final phase’ Ajax shares half-year figures: profit, large decline in turnover and negative forecast
2024-02-28 19:35:30
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