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| FILE - Ajax’s supporters react at the stand before the Europa Conference League round of 16 first leg soccer match between Ajax and Aston Villa at Johan Cruyff ArenA stadium in Amsterdam, Netherlands, Thursday, March 7, 2024. Ajax’s calamitous season lurched from bad to worse Tuesday, April 2, 2024 when the Amsterdam club suspended its new CEO, Alex Kroes, and said it plans to fire him on suspicion of insider trading. (AP Photo/Peter Dejong, File) |
Ajax’s calamitous season worsened when the Amsterdam club suspended new CEO Alex Kroes on Tuesday and said it intends to fire him on suspicion of insider trading in the club’s shares.
Kroes, who started at Ajax only last month as a permanent
replacement for Edwin van der Sar, could not immediately be reached for
comment. He posted a statement on LinkedIn saying he “cannot simply accept this
decision of the Supervisory Board.”
A successful sports administrator, Kroes was seen as a key
to bringing the struggling four-time European champion back to the top of Dutch
and European soccer after a dismal start to the season when Ajax fell into the
Eredivisie relegation zone and fired coach Maurice Steijn.
The club has risen to fifth in the Eredivisie but 28 points
behind runaway leader PSV Eindhoven, and is looking to hire a new coach for
next season.
“We are deeply dismayed that this has occurred at Ajax, as
it is highly detrimental to the club and everyone who holds it dear to them,”
Michael van Praag, chairman of the supervisory board, said in a statement.
Ajax said it suspended Kroes after discovering he bought
more than 17,000 Ajax shares a week before his intended appointment was
announced last August.
“The supervisory board sought external legal advice, which
indicates that he likely engaged in insider trading. Insider trading is a
criminal offense,” the club said.
Kroes confirmed in his statement that he bought about 17,500
Ajax shares shortly before his appointment in addition to more shares he
already held in the club.
“I thought it would be a positive sign to express confidence
in the club and to shareholders,” he said.
“I believe that you express confidence to your fellow
shareholders and stakeholders when you buy shares yourself and therefore also
run financial risks yourself. ‘Skin in the game,’ as it’s called.”
Van der Sar stepped down last May after the team finished
third in the Dutch league, missing out on a Champions League berth.
Van der Sar formed a strong and successful partnership in
the Ajax boardroom with former teammate Marc Overmars, until Overmars abruptly
quit as the director of football more than two years ago after apologizing for
sending inappropriate messages to female colleagues. AP