€48 million revenue masks Antwerp’s transfer freeze amid loan woes

Antwerp's 2025‑26 accounts reveal €48 million in player‑trade income, far exceeding the €5 million spent on transfers and supporting an expected €10 million profit, yet the club remains immobilised as owner Paul Gheysens still owes a multi‑million‑euro loan to hedge fund Fasanara and no new signings have been completed.

Vincent Jansen, Dennis Praet and Gyrano Kerk all left Antwerp on free transfers after their contracts expired, stripping the squad of its marquee players. Only Xander Dierckx and Taishi Nozawa remain as assets that could fetch a significant resale value, though their departure would further dilute the already thin squad.

Owner Paul Gheysens still owes a multi‑million‑euro loan to the hedge fund Fasanara, a debt that originally fell due on 30 June but has been temporarily postponed. Gheysens continues to explore a foreign investor who could repay the loan, a move that would allow him to retain the club’s top position.

A consortium led by media figure Wouter Vandenhaute, former international Toby Alderweireld and ex‑port authority chief Jacques Vandermeiren is negotiating a full takeover of Antwerp. The board expects clearer direction within the coming week as talks progress.

Technical director Marc Overmars remains under contract and keeps dialogue with agents alive, yet he is barred from finalising any transfer dossiers at present. In the same period, midfielder Christopher Scott, 24, signed a contract extension that costs the club nothing extra and secures short‑term sporting continuity.

Antwerp added three teenagers last month – Ecuadorian winger Carlos Mejia, Ghanaian striker Luis Narh and Japanese winger Koki Ando – but their immediate impact on the first‑team remains doubtful. Meanwhile, CEO Sven Jaecques’s contract expired on 30 June; the board, which includes the Gheysens family, entrepreneur Jürgen Ingels and Jacques Vandermeiren, asked him to remain in charge while the takeover negotiations continue.

The commercial department succeeded in extending the sponsorship contract with Coca‑Cola this week, yet existing partners are questioning the club’s future amid the financial limbo. The situation mirrors the Brussels government’s 600‑day experience of operating without collapse, underscoring how the summer window is crucial for Antwerp’s season ahead.