Up From Mediocrity: Ajax 2023-24

Discussion in 'The Netherlands' started by Orange14, May 28, 2023.

  1. richsavare

    richsavare Member+

    Ajax
    Netherlands
    Jan 28, 2003
    New Jersey
    Club:
    AFC Ajax
    Nat'l Team:
    Netherlands
    The Board is a mess.
    Regarding Kroes What insider trading information could there be?
    It’s just totally unbelievable what’s happening to this club.
     
  2. https://nos.nl/artikel/2515198-club...recteur-kroes-de-aandelen-ajax-met-voorkennis
    Club love or forbidden act: did director Kroes buy the Ajax shares with insider information?

    Insider trading: for that reason, Ajax wants to fire general manager Alex Kroes. But how justified is that? Just before it was announced in August 2023 that he would become director, Kroes bought shares of the professional club. He himself says that he reported the purchase. In that case, Ajax must explain why the new director was not protected from his action, says the Association of Securities Owners (VEB), which defends the interests of shareholders of listed companies. The most important characteristic of insider trading is that a person buys or sells shares of a publicly traded company, while he or she has knowledge of not yet public, price-sensitive information. According to VEB chairman Gerben Everts, the Netherlands Authority for the Financial Markets (AFM) must assess whether the suspended Ajax director has acted with insider information. There, Everts previously worked as a supervisor and dealt with insider trading matters at listed companies.
    Everts does call the purchase "stupid" and "unfortunate". He also thinks that information about a new director at a listed company is quickly considered price-sensitive. "It's not easy, but it's quickly seen that way. Especially at a company like Ajax, the director is someone who also changes the direction of a company."
    Alex Kroes himself says that he wanted to show confidence in Ajax with the purchase. "Skin in the game," Kroes wrote in a statement on LinkedIn. Indeed, it is not uncommon for a director to buy shares to show that he or she has confidence. VEB chairman Gerben Everts: "As a shareholder, we often find this desirable." For the time being, the VEB is therefore assuming good intentions. "I do believe that Kroes didn't think he wanted to score." Everts emphasizes that this intention does not mean that the right action has been taken. Ajax needs to take a good look at itself in the mirror, says Everts. "If, as Kroes says, Ajax knew about the share purchase, you can ask questions about the internal organization. Then the Supervisory Board should have protected him." The VEB will ask questions about this at Ajax's shareholders' meeting.

    AFM
    For the time being, the AFM has not ruled on the matter and refers to its duty of confidentiality. If insider trading is indeed involved, the AFM can take various steps. This can vary from an admonishing conversation to forwarding the case to the Public Prosecution Service.

    Edit: VEB is the foundation for shareholders interests.
     
  3. wynaldaisagod

    wynaldaisagod Member+

    Ajax
    United States
    Aug 9, 2019
    His last purchase was a couple days before “officially” hired. But I imagine he was given information on the club if that deep into the interview process.

    If the board knew the whole time, they’re idiots for allowing him to become CEO. From what I read somewhere else, Kroes didn’t disclose the last purchase. But that seems to be up in the air.

    It is just overall bizarre and dumb by Kroes. Why on earth would he do that? It might not be 100% illegal — but at the very least he had the information he was getting hired which wasn’t public. It’s moronic to put your career on the line for this.
     
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  4. Deadtigers

    Deadtigers Member+

    Jul 23, 2015
    Independent Republic of the Bronx, NY
    Club:
    Manchester United FC
    Nat'l Team:
    Ghana
    I know Ed had a brain bleed but is he able to come back? Tell Overmars, he is forgiven for the dick pics, and just make sure all the women that surround him, are Oma's (grandmas). I just want to see this club not be a hot mess. I not diehard fan but I always liked and respected Ajax but this backoff shit show is out of control.

    I don't see the problem with buying shares but maybe because I don't understand Dutch financial regulations. He was getting the job, he knew it so he bought shares in the club. What is so crazy!?!
     
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  5. Oh dear.

    A new political battlefield at Ajax cannot be ruled out, and that characterizes the Amsterdam snake pit


    According to Sjoerd Mossou, it cannot be ruled out that Alex Kroes has gone down in a dark political game at Ajax. "But with his juggling with Ajax shares, Kroes personally gave his opponents a weapon."
    Sjoerd Mossou 03-04-24, 06:00 Last update: 09:49
    https://www.ad.nl/nederlands-voetba...t-tekent-de-amsterdamse-slangenkuil~a144056e/
     
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  6. PuckVanHeel

    PuckVanHeel Member+

    Oct 4, 2011
    Club:
    Feyenoord
    Here is some background to this

    Is a complete ban on shares in the company you work for necessary?

    Cor Boonstra, who became CEO of Philips in 1996 and subsequently moved the headquarters to Amsterdam, came into disrepute in 2000 after he was found to have traded in Endemol [known for 'Big Brother' and 'The Voice' tv shows] shares, a week before the Spanish Telefonica made a takeover bid.

    The price shot up and Boonstra immediately took the profit of 225 thousand euros. But the Public Prosecution Service smelled trouble, because Boonstra's then girlfriend Sylvia Tóth was a commissioner at Endemol. He was acquitted due to lack of evidence - 'we cannot lift the roof of someone's skull and point to a pile of 'inside information',' according to the Public Prosecution Service - but was unable to get rid of his reputation as a grabber.

    The Financial Supervision Act, which prohibits insider trading, is a trap for top managers. In the Anglo-Saxon countries, where trading with non-public information is called 'insider trading', many CEOs have made a mistake, sometimes consciously and sometimes unconsciously, because they felt they were being shortchanged with their millions of salaries.

    But reputations have also been destroyed in the Netherlands. ABN Amro director Louis de Bièvre had to pack his bags in 1995. His wife had listened to her husband's telephone conversation about the takeover of real estate fund Breevast. She secretly bought 50,000 shares of the fund, with which she earned half a million euros. She got away with a fine of 1 million euros. Wim Scherpenhuijsen Rom had to resign a few weeks after his appointment as ING CEO due to a private investment with a client. The most controversial insider case was that against then business doctor Joep van den Nieuwenhuijzen and the multi-millionaires Léon Melchior and Eric Albada Jelgersma, who had dumped millions of HCS shares on the eve of an issue. They went free because it could not be proven that they had benefited from it.

    That was the reason for an amendment to the law. The condition for criminal liability that advantage must also be derived from it was removed. This is now costing Alex Kroes of the Ajax stock exchange fund his head, because he has not benefited financially either.

    Kroes was naive. Top managers are now expected to own shares in their companies, so that their own interests coincide with those of shareholders. For this purpose, they often receive rewards in shares and/or share options on top of their regular salary. But they cannot always capitalize on it. For example, there are lock-ups (trading bans) after the IPO, around the publication of figures or for other price-sensitive events, such as a takeover or appointment as director.

    The periods are arbitrary. Top managers always have insider knowledge about the ins and outs of a company. In the boardrooms there is continuous philosophizing about price-sensitive strategic decisions, such as the sale or purchase of activities or restructuring.

    One might think managers and their relatives up to the third degree should never own shares in the companies they run. It would also remove the prejudice that the interests of other stakeholders (employees, customers) are neglected.

    But the Netherlands has already strayed too far into the waters of Anglo-Saxon capitalism for such a ban.
    https://www.volkskrant.nl/economie/...-op-aandelen-in-eigen-bedrijf-nodig~bfc64b60/
     
  7. BPBlueSox

    BPBlueSox Member

    Ajax
    Netherlands
    Aug 21, 2003
    Georgia
    Club:
    AFC Ajax
    On a total side note, on the pitch, Ajax can cut it to 5 behind AZ for fourth tomorrow thanks to their surprising result today.
     
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  8. richsavare

    richsavare Member+

    Ajax
    Netherlands
    Jan 28, 2003
    New Jersey
    Club:
    AFC Ajax
    Nat'l Team:
    Netherlands
    #1359 richsavare, Apr 3, 2024
    Last edited by a moderator: Apr 4, 2024
    [QUOTE="wynaldaisagod, post: 42125946, member: 338473"

    I agree with you.
    Bizarre, dumb, and it might not be 100% illegal, but moronic.
    Once again the Board and entire Management and decision makers have let us down.
    Truly incredible how F up Ajax is right now.QUOTE][/
     
  9. Orange14

    Orange14 Moderator
    Staff Member

    Apr 27, 2007
    Bethesda, MD
    Club:
    AFC Ajax
    Nat'l Team:
    Netherlands
    Kroes is now in trouble with the KVNB. He bought shares in Ajax while he was at AZ which is against the regulations. This was before the 'insider trading' purchase. He did not inform them or AZ about this purchase. I think AZ would have sacked him right away had they known just as they did Slot when he negotiated a deal to manage Feyenoord while still the AZ trainer.
     
  10. Deadtigers

    Deadtigers Member+

    Jul 23, 2015
    Independent Republic of the Bronx, NY
    Club:
    Manchester United FC
    Nat'l Team:
    Ghana
    Bring back Ed and Marc. Let's just go back to those two.
     
  11. Orange14

    Orange14 Moderator
    Staff Member

    Apr 27, 2007
    Bethesda, MD
    Club:
    AFC Ajax
    Nat'l Team:
    Netherlands
    Not going to happen. When you look at Overmars's transfer record, there were some very good buys but also a lot of rubbish players.

    I've posted this list before but here are the transfers during Overmars period and you can draw your own conclusion about how effective he was.:

    2013
    van der Hoorn
    Duarte
    Poulsen
    Viergever
    2014
    Sinkgraven
    Zimling
    Milik
    Zivkovic
    2015
    Dijks
    Gudelj
    Younes
    2016
    D. Sanchez
    Westermann
    Casseria
    Neres
    L. Traore
    Ziyech
    2017
    Orjuela
    Taliafico
    Wober
    Huntelaar
    2018
    Blind
    Magallan
    Schuurs
    Bande
    Tadic
    2019
    Alvarez
    Pirie
    Labyad
    Marin
    Martinez
    Babel
    Promes
    L. Traore
    2020
    Scherpen
    Steklenburg
    Klaiber
    Kudus
    Antony
    Haller
    Idrissi
    2021
    Gorter
    Pasveer
    Berguis
    Godts
     
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  12. aveslacker

    aveslacker Member+

    Ajax
    United States
    Apr 2, 2006
    Old Madras
    Club:
    AFC Ajax
    Nat'l Team:
    United States
    This was my first suspicion. He gave his enemies ammunition and the moment he did something that threatened their interests (whatever that was), they pounced.
     
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  13. Deadtigers

    Deadtigers Member+

    Jul 23, 2015
    Independent Republic of the Bronx, NY
    Club:
    Manchester United FC
    Nat'l Team:
    Ghana
    I see lots of misses but some really big hits. The big hits did more than. Enough to offset the misses.
     
  14. pfloyd

    pfloyd Member

    Mar 18, 2012
    Varna, Bulgaria
    Club:
    AFC Ajax
    If Kroes , as he claims, had told Ajax board about the shares purchase, why in the first place they hired him if this is against the regulations? Isn't it the board, with its inadequate decision, to blame for the current mess? If this is the case shouldn't they resign? Lots of questions and very few answers.
     
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  15. Deadtigers

    Deadtigers Member+

    Jul 23, 2015
    Independent Republic of the Bronx, NY
    Club:
    Manchester United FC
    Nat'l Team:
    Ghana
    Yup, house of daggers stuff. Find out who the looked over internally to give Kroes the job.
     
  16. wynaldaisagod

    wynaldaisagod Member+

    Ajax
    United States
    Aug 9, 2019
    So there is some July 28th (?) purchase that people have mentioned that he didn't disclose to the board. 17,000 shares the week before he was announced to join. It is one thing to buy the shares while working at AZ (bizarre and wrong) but it's another to buy the shares when you know you're taking over the club.

    I agree the board handled this wrong and is incompetent-- but this is a 100% no discussion fireable offense. I don't think this is a 'they were looking for something to fire him about' situation.

    I mean forget working at Ajax-- he might get a lengthy ben from the KNVB.
     
  17. BPBlueSox

    BPBlueSox Member

    Ajax
    Netherlands
    Aug 21, 2003
    Georgia
    Club:
    AFC Ajax
    Wow! What a goal by Gaaei! Super happy for him with all the flack he’s got since he’s been in Amsterdam (me included!)

    real nice work from Godts in the work-up too whose cross led to the volley goal from Gaaei
     
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  18. wynaldaisagod

    wynaldaisagod Member+

    Ajax
    United States
    Aug 9, 2019
    Sigh.... What's next?
     
  19. BPBlueSox

    BPBlueSox Member

    Ajax
    Netherlands
    Aug 21, 2003
    Georgia
    Club:
    AFC Ajax
    Ramaj sure does fumble the ball a lot. It was a tough ball, regardless, but he doesn’t seem the most sure with catches. Good reflexes, though.
     
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  20. BPBlueSox

    BPBlueSox Member

    Ajax
    Netherlands
    Aug 21, 2003
    Georgia
    Club:
    AFC Ajax
    Totally ridiculous. Go Ahead wasn’t even in this match and they pull a point out of it.
     
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  21. Orange14

    Orange14 Moderator
    Staff Member

    Apr 27, 2007
    Bethesda, MD
    Club:
    AFC Ajax
    Nat'l Team:
    Netherlands
    This had to be one of the youngest starting 11 ever to wear an Ajax shirt. Even all the substitutes were really young as well. Of course, Ajax did fail at the end of the match like so many others this season and could only come away with one point. Maybe Ramaj could have punched the ball away, but it was an error of magnitude. Ajax had a number of opportunities to finish off the match but could not finish chances or make the final pass that would have led to a better shot on goal. Things stay the same in the table as all the teams around Ajax drew (other than AZ but they may be a step too far for Ajax to catch). Gaaei has to be the top player on the pitch with a very solid game.

    It's not much fun to be an Ajax supporter and wait until they undo a lot of minutes of good work.

    Player Ratings:

    Ramaj (4) - two horrible fandango moves and almost lost the ball each time; he had to be brave and come out on the equalizer but maybe could have done better
    Gaaei (7) - world class volley and generally very good play otherwise
    Rensch (6.5) - defended well
    Kaplan (6.5) - strong in the air
    Hato (5.5) - Cal Ripken streak continues, but this was far from his best game
    Taylor (6) - worked hard on defense all game long and came forward to be part of the offense
    Tahirovic (5.5) - marginally average and just can't make quick passes when they are needed
    Mannswerk (6) - had the ball in deep but just two very weak shots
    Hlynsson (6) - hard worker and came back to help out defending
    Godts (6.5) - a couple of great crosses but dribbled into two defnders too much for my liking
    Bergwirn (4.5) - looked peeved when he was pulled out but he was really poor on the night, can't play in the middle
    Fitz-Jim (5.5) - had some nice passes but when he loses the ball he gives up on the play
    Rijkoff (5) - should have passed to the cutting player instead of shooting
    Forbs (5) - I hope some team in Europe wants him this summer but I'm afraid no one will
    Voss (5.5) - decent in the time he was on
    Goojier (NR) - on late and his cross was not worth commenting on

    Feyenoord, who are injury struck, up on Sunday. The dismal hits just keep on coming.
     
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  22. aveslacker

    aveslacker Member+

    Ajax
    United States
    Apr 2, 2006
    Old Madras
    Club:
    AFC Ajax
    Nat'l Team:
    United States
    Nobody really comes out of this looking particularly good.
     
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  23. Funny thing: I read somewhere in the media the players bought by Mislitat (can) fetch more than he paid for them:D
     

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