Ajax announced on Tuesday they were suspending CEO and chairman Alex Kroes on suspicion of insider trading, piling more woe on the Dutch giants who have endured a horror season.

The club said they had learned that Kroes bought more than 17,000 Ajax shares a week before his intended appointment was announced on August 2, 2023.

“The Supervisory Board sought external legal advice, which indicates that he likely engaged in insider trading. Insider trading is a criminal offence,” the club said in a statement.

The club’s supporters’ association said the news came as a “bombshell” to already suffering fans.

“The misery at Ajax continues and cannot be stopped... It is almost impossible to comprehend,” the association said in a blog post.

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