Feyenoord closed the 2025/26 financial year with a net loss of 12.6 million euros, driven by a drop in revenue, an inflated payroll, and the fallout from the former dual role of general and technical director. As Voetbal International reported, the concentration of power at the top removed crucial internal checks and balances.
Fantasy & Market Impact
- Standout assets like Givairo Read (Estimated Transfer Value of 26.8 million euros) and Anis Hadj Moussa (28.2 million euros) are seen by Knipping as valuable players that can help give Feyenoord some breathing room on the transfer market.
The Cost of Concentrated Power in De Kuip
According to an analysis by financial journalist Tom Knipping published in Voetbal International, combining executive duties left the Rotterdam club exposed. “The combination of general director and technical director has simply proved very unwise,” Knipping stated. “Then you are corrected less quickly, because they bought too big and the organization has become too big.”
The numbers illustrate the strain. Feyenoord’s revenue dropped from 166.7 million euros in 2024/25 to 115.2 million euros the following season. Total costs were 140.9 million euros, producing an operational loss of 25.7 million euros. A positive transfer result of 9.4 million euros resulted in a loss before interest and taxes of 16.3 million euros.
Financial director Pieter Smorenburg countered that the multi-million-euro loss stems primarily from lower European revenues rather than executive structure.
An Exploding Staff and Transfer Missteps
Beyond executive oversight, the organization itself expanded rapidly. Over a five-year period, full-time equivalent positions surged by sixty percent, climbing from 277 to 444. As PSVFans noted, Feyenoord’s staffing levels sit 86 positions higher than rival PSV, despite PSV operating its own stadium and internalizing merchandising operations that Feyenoord has outsourced.
Personnel costs consumed 89.7 million euros last season—a staggering 78% of total revenue. “If 78 percent of income goes to personnel costs, you can almost blindly sign off on it leading to a loss,” Knipping warned FR12.nl. The UEFA recommends staying below that threshold.
| Financial Metric | 2024/25 Season | 2025/26 Season |
|---|---|---|
| Total Revenue | €166.7M | €115.2M |
| Personnel Costs | — | €89.7M |
| Operational Result | — | -€25.7M |
| Net Result | — | -€12.6M |
Knipping also criticized recruitment efficiency, noting that the club “shot with buckshot” on the transfer market. Compounding this, Feyenoord booked over 25 million euros in total extraordinary impairments across the past two seasons—unusually high write-downs on squad acquisitions.
Restructuring the Boardroom
Robert Eenhoorn is part of the new leadership tasked with bringing the financial organization back in order. Knipping’s analysis also questioned the oversight of the supervisory board, led by chairman Toon van Bodegom, regarding the rapid escalation of overhead costs.
For the new leadership, the mandate is to bring financial stability. The club retains notable assets on the pitch, but financial recovery will require strict operational discipline across all departments.
Disclaimer: The fantasy and market insights provided are for informational and entertainment purposes only and do not constitute financial or betting advice.
