Dutch giants AFC Ajax Amsterdam are set to lose 20 million euros as a result for not qualifying for next season's UEFA Champions League.

Ajax couldn't finished in the required position in the Dutch first division to even seep into the qualifying rounds of Europe's top tier club competition and therefore miss out on the money that barges in as a result of playing among Europe's elite in the group stage.

Acting managing director Henri van der Aat told the Algemeen Dagblad that this is indeed a disaster and regrets that a huge and traditionally strong club like Ajax wouldn't feature in the Champions League.

He said:

"It is a catastrophe for Ajax
It’s a drama, just horrible. A club such as Ajax should at least make it into the third qualifying round of the Champions League.”

But new chairman Uri Coronel was more optimistic and insisted that Ajax do have the resources to counter and compensate that loss. He remains adamant that the club shall make the reinforcements as new coach Marco van Basten shall want.

He told De Telegraaf:

"By missing the Champions League income we now know that Ajax will have a difficult financial season.

"But that doesn’t mean that we will not go on as planned with investing to make the squad stronger.

"We must make that step to make sure that we don’t muddle along on the current level. As they say, spending money will make money.

“The club will not cut its transfer budget. It stays as it is. We will still be doing what we intended to do in the transfer market. Marco van Basten’s plans will be materialised. After all, we have still qualified for the UEFA Cup.”