Ajax finally post figures in the black and have that to thank for one thing
Ajax have closed the 2025/2026 financial year with a net profit of €2.0 million despite a disappointing season on the pitch, according to the annual figures the Amsterdam club are publishing on Friday. It marks an improvement of no fewer than €39.3 million on a year earlier, when Ajax still posted a net loss of €37.3 million.
Ajax's net revenue rose by €10.2 million to €188.3 million, an increase of six per cent. The club say that growth was mainly driven by higher European prize money from Champions League participation, after Ajax had played in the Europa League the previous season.
Costs also kept rising. Operating expenses went up by €9 million to €206.5 million, partly because of higher wage costs in professional football linked to Champions League participation and a number of one-off financial setbacks.
Chief executive Menno Geelen also waived a bonus of his own accord. According to the annual report, the supervisory board awarded him a substantial part of the maximum possible bonus of €125,000, but Geelen decided not to take it.
"The agreed personal and organisational objectives were achieved," Geelen said. "But I felt that for last season this did not outweigh the very disappointing sporting results and the managerial changes that took place under my ultimate responsibility."
Ajax also point to compensation for supporters after the abandoned match against FC Groningen and the dismissal of the head coach during the season. That left the operating result at a negative €18.2 million, compared with a negative €19.4 million in the 2024/2025 financial year.
Positive annual figures have finally returned because of Ajax's transfer business. The sales of, among others, Jorrel Hato to Chelsea, Brian Brobbey to Sunderland and Kenneth Taylor to Lazio generated €65.5 million from player sales.
Once €38.8 million in amortisation of transfer fees was deducted, a positive transfer balance of €26.7 million remained. A year earlier, that balance still stood at a negative €31.0 million, meaning Ajax improved by €57.7 million in this area.
On the pitch, though, the season was far less successful. Ajax finished 32nd in the League Phase of the Champions League, failed to reach the knockout phase and came fifth in the Eredivisie, before securing a place in the second qualifying round of the Conference League through the play-offs.
For the 2026/2027 financial year, Ajax expect Conference League participation rather than Champions League football to put revenue under pressure, which is why the club remain committed to cost control and financial discipline.
Major transfers completed after 1 July involving, among others, Sean Steur to Newcastle United and Mika Godts to Paris Saint-Germain will, however, give the next set of results an enormous boost.
