Football club Ajax made a loss of €37.3 million in the last financial year, mainly as a result of failing to qualify for the Champions League and disappointing transfer sales.

The club’s financial director, Shashi Baboeram Panday, said the figures were in line with expectations, following a season in which Ajax had to rebuild its squad after finishing fifth and sacking coach Maurice Steijn after just seven matches.

Ajax earned just €10.3 million in incoming transfers while spending more than €40 million on new players – in contrast to the previous season, when the sale of high-profile players such as Jurriën Timber and Edson Álvarez translated into a €70 million net profit.

The book year ended on June 30, before the main summer transfers, including the €20 million sale of Brian Brobbey to Sunderland, had been concluded.

Ajax’s operating loss shrank from €40 million two years ago to €19.1 million last year, while turnover increased by €26 million to €178 million, largely thanks to higher income from ticket sales.

Panday said the outlook for the current year was better now that the club had cut its wage bill by offloading several senior players, such as Brobbey and former England international Jordan Henderson.

Champions League finances

“The result is the consequence of the last few years in which we weren’t playing in the Champions League but still had the financial commitments of a Champions League club,” she said.

Ajax are back in the Champions League this season and will play their second group stage match on Tuesday night against Olympique Marseille.

The club’s fans have been banned from the city as a result of previous disturbances involving Dutch supporters in recent years, mainly at matches against Feyenoord.

Ajax coach John Heitinga said he expected the match to be “intense“ and a “tough test“ against “one of the strongest teams in our group phase“.

Heitinga dismisses speculation

Heitinga is missing veteran striker Wout Weghorst and new signing Kasper Dolberg through injury, as well as English midfielder James McConnell.

The coach waved away speculation about his own future after being criticised for Ajax’s faltering start to the season, including a 2-0 home defeat to Internazionale in the opening Champions League group game.

“It’s not what I want to waste my energy on,” he said. “I’m fully focused on the squad, the process and the development of the team. I can’t do much more.”