Revived Ajax Declared Free from Financial Woes, Says General Manager

Ajax has regained its financial stability, as confirmed by general manager Menno Geelen in an interview with ESPN.

The 36-time Dutch champions faced significant financial challenges following the onset of the COVID pandemic, compounded by missing out on the Champions League in consecutive seasons. The high wages and lavish transfer expenditure under the former Arsenal executive Sven Mislintat further deepened the club’s woes in recent years.

However, under the leadership of general manager Menno Geelen, technical director Alex Kroes, and football director Marijn Beuker, Ajax is poised to turn a new page, Geelen expressed to ESPN.

“The Champions League is essential. We must be truthful about that,” asserted Geelen. Before the weekend’s matches, Ajax held an 8-point advantage over PSV in the Eredivisie and was well on track to secure a place in next year’s Champions League, maintaining a 14-point buffer over third-placed FC Utrecht.

Returning to the Champions League for the first time since the 2022/23 season is crucial for the club. “The gap between the Champions League and the Europa League has become even more pronounced this year,” Geelen added.

“Playing in the Champions League is uplifting; not being in it makes those disparities glaring. For Ajax, participating in the Champions League is undeniably beneficial.”

Mislintat’s Era

The club has made concerted efforts to offload many ‘Mislintat acquisitions’ after the German—who arrived in May 2022 following the departure of Marc Overmars—invested heavily in players and offered them substantial wages without consulting other members of the management team.

Mislintat faced scrutiny for conflicts of interest and irregularities surrounding the transfer of Croatian full-back Borna Sosa; however, an audit and comprehensive investigation by KPMG cleared him of any wrongdoing.

“We no longer face significant financial difficulties,” stated Geelen. “There was often talk about having a loan. That is now a thing of the past.

“While we do have a credit facility, which allows us some flexibility, we are not operating at a deficit. Ajax is not saddled with debt; we have sufficient funds available in our accounts, even now during a Europa League season.”

Despite overcoming previous financial struggles, Geelen acknowledges that Ajax will need to continue selling players moving forward. “Financially, we are in a much stronger position compared to last year, but the importance of the Champions League is clear.

“A club like Ajax will always need to sell players. Ideally, you would like to retain your stars, but Ajax has a tradition of its top players moving on, and that’s something we take great pride in.”