FC Utrecht has suffered a loss of 3.8 million euros over the 2021/22 season, the club has announced through the official channels. That is a better result than in the 2020/21 season, when the loss was 5.7 million euros. One of the reasons that Utrecht is also writing red numbers this time is the discount on the transfer amount from Gyrano Kerk to Lokomotiv Moscow. The club from the Dom city says it has agreed to a reduction of the original amount, due to the uncertainties that the Russian invasion of Ukraine entailed.
The transfer from Kerk to the Russian capital involved an amount of seven million euros, excluding bonuses. Due to the uncertainties surrounding the raid, Utrecht eventually agreed to a lower amount. The exact amount received by the club has not been disclosed. “Due to the outbreak of the war in Ukraine, great uncertainty has arisen about the creditworthiness of the claim against a Russian football club from the transfer of a player, which was realized in the financial year,” says the club’s technical director Jordy Zuidam.
“An offer from the Russian club (Lokomotiv Moscow, ed.) to pay the receivable early at a discount has been assessed by the management in consultation with the supervisory board and shareholders in the light of the risks of an ongoing and long-running conflict. This assessment and review of the transaction to the applicable sanctions policy led to the decision to receive the claim early with a discount and thus reduction of the transfer result.” The lightning-fast attacker, who made the switch to Russia in September 2021, played seventeen games in the Russian Premier League this season. He was good for two goals and an assist. The 26-year-old from Amsterdam scored once in the national cup tournament.
FC Utrecht emphasizes that the total result would have fit within the budget if Kerk’s transfer amount had not been reduced. “However, it remains necessary for the club to focus on cost reductions in order to work towards a more sustainable result.” Operating costs have increased by almost ten million euros compared to the 2020/21 season. This is mainly due to the increased personnel costs, which rose by five million euros. Due to the red figures, the equity of the Eredivisionist goes from 5.6 million euros negative to 9.5 million euros negative. A positive aspect of the annual report is the turnover of the club. The club had a turnover of 24.1 million euros over the past season, which is almost ten million euros more than the season before.