Ajax terminates CEO’s contract after allegations of insider trading

Ajax have suspended CEO Alex Kroes over allegations that he was involved in insider trading. It appears that the new CEO purchased Ajax shares despite already knowing that he would become the sides new general manager. In a statement released by the club, they revealed that Kroes purchased more than 17,000 shares in Ajax a week before the publication of his intended appointment.

As a result, the club has been in discussions with lawyers for legal advice on what this would mean. It appears that they have come to the conclusion that this would be deemed as insider trading and thus a criminal offence. The side plan to terminate his contract as soon as possible.

This is the latest drama at the club that, just a few seasons ago, had to part way with Marc Overmars after allegations of sexual misconduct. The former Barcelona and Arsenal midfielder moved to Antwerp just a few weeks later but has since been further suspended by FIFA from all footballing activities.