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- Shares in AFC Ajax plunged more than 20% after its shock loss to Tottenham on Wednesday night.
- The drop wiped 162 million euros ($181 million) off of the Dutch soccer team’s market value.
- Ajax’s stock had surged more than 50% during the European soccer competition, after knocking out Real Madrid in the round of 16 and Ronaldo’s Juventus in the quarter-final.
- Watch Ajax trade live.
Shares in AFC Ajax plunged more than 20% on Thursday after its shock loss to Tottenham on Wednesday night and exit from the Champions League.
The drop wiped 162 million euros ($181 million) off of the Dutch soccer team’s market value.
Ajax was all but guaranteed a place in the final of the European soccer competition.
The team beat Tottenham 1-0 in the first leg of the semifinal, and scored two goals without reply in the first half of the return fixture.
However, the North London club mounted an astonishing comeback after forward Lucas Moura scored twice before the hour mark and completed his hat trick in the dying seconds of the game, meaning his team advanced on away goals.
Ajax’s stock surged by more than 50%, from around 16 euros to 25 euros, during its remarkable Champions League run. The young team built a reputation as a giant-killer after it bested Real Madrid in the round of 16 — it lost the first leg but scored four goals in the return fixture to progress — and Ronaldo’s Juventus in the quarter-finals.
The club’s departure from the Champions League means it will now miss out on additional publicity — which could have drawn investment, talent, and lucrative commercial deals to the club — and financial rewards.
Last year’s champions Real Madrid netted more than $100 million in prize money, according to the Associated Press.
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SEE ALSO: Juventus shares plunged 10% after Ronaldo’s team crashes out of the Champions League (JUVE)
Source: Business Insider – tmohamed@businessinsider.com (Theron Mohamed)