Premier League

AJAX CEO Alex Kroes has been suspended with immediate effect after being accused of insider trading.The football executive was appointed by the Eredivisie giants as Edwin van der Sar’s replacement last summer.Alex Kroes officially began duties at Ajax last monthCredit: RexKroes replaced former Man Utd keeper Edwin van der SarCredit: APDue to his contractual situation with former club AZ Alkmaar, Kroes was not able to begin work in Amsterdam until March 15.Barely a fortnight later, Ajax decided to suspend Kroes with a view to terminating his contract.In a statement, they confirmed: “The Supervisory Board of AFC Ajax NV has decided to suspend Alex Kroes, CEO and chairman of the board, with immediate effect and intends to terminate the collaboration permanently.”This decision was made after the Supervisory Board learned that Kroes purchased over 17,000 shares of Ajax a week before his intended appointment was announced on August 2, 2023.READ MORE IN FOOTBALL”The Supervisory Board sought external legal advice, which indicates that he likely engaged in insider trading. Insider trading is a criminal offence.”His fellow board members will take over Alex Kroes’s duties and responsibilities. Furthermore, Michael van Praag will temporarily assist the board as a delegated commissioner.”In the short term, an Extraordinary General Meeting of Shareholders (EGM) will be held to hear the shareholders about the intended dismissal, as prescribed by the articles of association.”After that, the Supervisory Board will decide on the dismissal.”Most read in FootballBEST FREE BET SIGN UP OFFERS FOR UK BOOKMAKERChairman of the Ajax board Van Praag, 76, added: “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.”Alex Kroes’s actions are not in line with what Ajax stands for. The timing of his share purchase indicates insider trading.Former Ajax and Holland star Quincy Promes sentenced to six years in prison after importing 1,370kg of cocaine “Such a violation of the law cannot be tolerated by a publicly listed company, especially when it involves the CEO.”After careful consideration, the Supervisory Board has therefore concluded that Alex’s position as a director of Ajax is untenable.”I want to emphasise that the technical policy will continue with the individuals in place and on the path Ajax was already on with Alex.”Ajax have endured a turbulent season on and off the pitch.In October they found themselves in the relegation zone after enduring their worst run of results since 1954.A number of key staff members paid with their jobs, including former Arsenal scout Sven Mislintat and manager Maurice Steijn.Mislintat had replaced ex-Gunners winger Marc Overmars as director of football, but was axed after just 129 days following what was deemed to be a poor summer transfer window.Steijn, 50, signed a three-year deal last June after joining from Sparta RotterdamFollowing just two wins in 11 games in all competitions, however, the Dutchman received his marching orders.READ MORE SUN STORIESAjax have since recovered somewhat under Steijn’s successor John van ‘t Schip.They currently sit fifth in Eredivisie table, having signed England star Jordan Henderson in January.Jordan Henderson joined Ajax in JanuaryCredit: Getty More

FARHAD MOSHIRI faces losing control of Everton in a matter of weeks — as the club stare into a £1BILLION black hole.Owner Moshiri’s sale to 777Partners is in danger of collapse, while MSP Capital can take control if he fails to pay back a £158million loan by the middle of this month.Farhad Moshiri could lose control of Everton amid 777 Partners’ takeover potentially collapsingCredit: Getty Images – GettyMSP Capital could take control of Everton if Moshiri doesn’t pay back a £158m loanCredit: AlamyThere is also the growing threat of Everton going into administration after the club revealed losses of £89m for 2022/23 on Sunday.That figure is almost double the previous season’s deficit and the Toffees’ accounts again stated there is “material uncertainty that may cast doubt about the club’s ability to continue as a going concern.”The £89m loss is the cause of a second charge hanging over them for allegedly breaching Profit and Sustainability rules.And the Toffees may also have to fork out another £78m in transfer add-ons and £27m in bonuses this season.READ MORE IN FOOTBALLEverton, who have already been hit with a six-point penalty for overspending the £105m three-year limit up to the previous 2021-22 season, owe an eye-watering £500m to various creditors — having  lost almost £500m in the last five years.One of their debts is £158m owed to MSP Sports Capital, borrowed to help fund the construction of the new Bramley-Moore Dock stadium, which Moshiri has said could ultimately cost a whopping £750m.Blythe Capital, owned by lifelong Everton fans Andy Bell and George Downing, acted as security agents for the loan.They did so almost a year ago in exchange for a charge on his shares and on the stadium development company unless the loan is repaid by the middle of this month.Most read in FootballCASINO SPECIAL – BEST CASINO WELCOME OFFERSFailure to do so, with Moshiri himself already owed around £400m and unwilling to invest any more, would mean, with Blythe acting as security agents, MSP would have the right to acquire a controlling stake in Everton.MSP would then own 67,501 shares – 51 per cent – out of a total of 135,00 issued.What is FFP? How Financial Fair Play is affecting Man Utd and Arsenal in January transfer windowMoshiri’s shares through Blue Heaven Holdings would fall from 127,031 to 59,530.The money might be found from 777 Partners in the form of a new loan, with £160m lent to the club by the Miami-based firm since that original agreement last September.But 777 have now effectively had their major source of funding taken away by US financial regulators.They had received investment of around £2.4bn from A-Cap, a company that runs five big insurance firms in the American states of Utah and South Carolina.But A-Cap are now understood to have been told by the governing financial authorities that they should limit their exposure to 777.Without A-Cap’s backing, Everton’s potential new owners are likely to struggle to raise the £158m – and be forced to walk away from their takeover attempt.The Premier League last week issued “minded to approve” conditions on the bid.One of those was proof of funding to complete the stadium, while another was the full repayment of MSP’s £158m loan by mid-April.Moshiri has urged Everton fans to “bear with us” and that the sale of the club was going into “the home straight.”READ MORE SUN STORIESBut, with one of 777’s biggest investors in A-Cap having been told to effectively cut ties, the long-running takeover saga is destined to hit the rocks.Meanwhile, Moshiri — eight years after taking over and desperate to cut his losses — will face another desperate search for new owners.Everton fans have protested against Farhad MoshiriCredit: Reuters More