The fact that January has been a turbulent month for KAA Gent is putting it mildly. The fact that CEO Michel Louwagie attended coach Hein Vanhaezebrouck’s press chat today further reinforces that statement. The press conference – with rarely seen transparency – lasted just under an hour.
“A lot of people,” Hein Vanhaezebrouck set the tone when entering the press room.
The coach of KAA Gent had to bite his tongue for a while, because CEO Michel Louwagie also took a seat on the podium.
Louwagie gave a monologue of more than 20 minutes. It was an open insight into the past transfer period, chock full of details and with the necessary drive.
“When I drove home yesterday, I received one email following another full of incomprehension and anger. That is why I want to provide clarity,” he explained his presence.
“A lot has happened in this special winter mercato. At the end of November and beginning of December, our new owner (Sam Baro) reminded the coach, the chairman and myself that he is an entrepreneur.”
“He buys a company, but it cannot be loss-making and certainly not remain so. He then pointed this out to us.”
“We then sat together and looked at what needed to be done to make the company financially healthy once more.”
As an entrepreneur, the new owner did not want a loss-making company. He pointed this out to us at the beginning of December.
Michel Louwagie (manager KAA Gent)
Louwagie pointed to an accounting loss of 19 million euros last season.
“Then you have to implement a capital increase, which was done by the owner. But at a certain point it stops and the company has to become self-sustaining.”
“In football you have to sell players. If you do that and if players leave for the Africa and the Asian Cup at the same time, it is not easy. Because many clubs do not want to sell in the winter and players still decide for themselves. “
“We don’t score 10 out of 10 on our approach,” the CEO admitted, “but we haven’t done that badly.”
Malick Fofana.
Frankfurt’s influence on Orban
After which Michel Louwagie started to fillet the key cases one by one. Number 1: Malick Fofana. “There was an offer of 22 million euros and a percentage on the resale. You have to accept that in this situation.”
“We thought we had sufficient resources following his sale. This year’s operating loss, 10 million euros, had been closed. And believe me: every top club in Belgium has such a loss.”
After which Gift Emmanuel Orban was put on the table. “This summer we set his price very high. We didn’t sell him, although we might get 25 million euros at the time. I think.”
“Our price was above 30 million euros, but we were not able to realize that. Why not? Because we did not want to sell it.”
“We refused a transfer to a player who might perhaps earn 10 times as much elsewhere. The player is then not so satisfied, scores less and was courted by Frankfurt during the period in which he had to perform, September and October.”
“I didn’t inform anyone regarding this, but the player did know through his agent. Frankfurt offered 13, 15 and 18 million euros and bonuses on Gift.”
“That is one of the reasons why he performed less. It is not possible for a club to bid for a player while the competition is going on.”
But that had consequences. “Every time Gift saw me, he asked if there was already a club, if it would be sold this winter. Then you know: then you have to sell it.”
Gift Orban.
Interim office
“The fans still understood that, but then we end up with Hugo Cuypers,” the CEO said to the third departure. The striker moves to the MLS.
“We had refused a transfer to Bologna and Hoffenheim this summer. He resigned himself to it. Chicago Fire then came, but the first offer was rejected.”
“After the match once morest KV Mechelen he asked if he might speak to me. “I would like you to let me go,” said Hugo. Players also have something to say, right.”
“We receive criticism and we understand that. There is the issue of the day following that 4-1 yesterday and fans say that we should have known that we would miss internationals during this period. We made them international, right? They were not yet when they ended up here.”
“But which player wants to collapse and perhaps end up on the bench following 6 weeks? Players and agents are not stupid either.”
“Our coach sets the bar high for the replacements, rightly so. And there are no interim offices where you can rent players for one month. Unfortunately, that does not exist.”
“We have decided to also let Hugo go. The economic value of him and Gift was no longer as high as this summer, but they might earn more elsewhere. As a club you have to go along with their thinking.”
“You can’t lock them up and tell them to stay. This puts you in a situation that you don’t completely control.”
Hugo Cuypers.
Dark green
The accountant in Michel Louwagie was in full swing. “These moves have brought in a lot of money: we raised 55 million euros and 16 million euros in bonuses, compared to 25 million euros and 3 million euros in bonuses we paid ourselves.”
“Our equity had fallen to 4 million in the red, which will now amount to 40 million in reserves. So this company is very healthy. We have dark green figures.”
“We have a savings fund of 40 million euros, which makes new investments possible. Now we can anticipate. We don’t have to wait this summer until we have sold.”
“We are taking a step forward there and we no longer have any debt. There will be money in the account. That is also important for the license. These conditions have been tightened and we will also be among the best students in that area.”
This company is very healthy. We have dark green numbers.
Michel Louwagie (manager KAA Gent)
Flashback thanks to Mitrovic
The Ghent CEO also addressed the supporters. “Look at the new reality.”
“The financial possibilities are not unlimited, but we are in very good shape. We have also worked together day and night. In consultation with each other, let that be clear.”
“We are following the right path. We cannot deny that there is a bit of panic, but the prizes will be distributed at the end of the season. An appointment at the end!”
After the speech of more than 20 minutes, Hein Vanhaezebrouck was also allowed to make his first contribution. “Do I understand? Of course. As a trainer you have to contribute to the story. If there are economic problems, you have to find money.”
“For me it’s more regarding the timing. That got us into trouble. We started the season with hope and the supporters started to dream.”
“But if you don’t sell anyone in the summer and keep everyone and players are asking questions… Our group is currently far too small and we already knew that at the beginning of the season.”
I am not satisfied with the entire transfer period, but we have made some good transfers.
Hein Vanhaezebrouck
“That was also for economic reasons. It was just predictable. We knew those problems might come.”
“But we transferred well,” said the Ghent T1. “Look at the return of Stefan Mitrovic. I saw him in training today. That was a flashback to the good period. He will get fired up.”
“I am not satisfied with the entire transfer period, but we have made good transfers. We had an agreement with 3 clubs regarding players, but they hesitated for too long and decided very late.”
“We now also have more resources, but then you also enter the waters of the major competitions. If Spanish and Italian clubs are interested in the same players… I still find it incredible what we have done in the last few days.”
AA Gent Incoming transfers Stefan Mitrovic (Serv) defender Getafe (Spa) Hugo Gambor (Fra/CAf) defender USL Dunkerque (Fra) Momodou Lamin Sonko (Swe) forward Häcken (Swe) Daisuke Yokota (Jap) forward Gornik Zabrze (Pol) Franck Surdez (Zwi) striker Dunkirk (Fra)
Jealousy
“There are a lot of money in the account,” the Ghent coach also realizes, also called “a friend of the house” by his CEO.
“But the fans are now looking at what will happen and that is also important to me. How are the balloons filled? If it is the right way, then you can write a new story. If that is disappointing, it is something else. “
“A lot will depend on that. We had to opt for financial security. There is a good basis. If the fans see that we are taking the right steps, they will be able to place this.”
“They dreamed of the maximum and they realize that we have to give that up, but if there is a future perspective, they will understand that this was necessary for a while.”
After which, at the tail end of the XL chat that lasted just under an hour, Louwagie once once more emphasized his message in a firm tone.
“AA Gent is in very good shape. Maybe not in the short term, but we will definitely come back. With these options you don’t have to doubt that.”
“Everything happened in consultation. There is 40 million in the account. Many club leaders are jealous of our situation.”
“We don’t have to build a stadium anymore. We are taking steps. They may not be immediately visible, but they are steps forward.”
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