Our first full season as owners of AB A/S has been exciting. There have been many highlights, but also disappointments. We have made significant progress as a club, but we have also made mistakes. Overall, it has been a year filled with learning and improvement, both on and off the pitch. However, we have never been more sure that AB A/S is on its way back to where the club belongs. There is still a lot of work ahead of us, but we are optimistic about what we are building. We hope that everyone around the club shares this optimism.
On the pitch, there have been some fantastic moments. We qualified for the quarter-finals of the Danish Cup for the first time in 22 seasons and delivered an excellent performance against one of the country’s best teams. While the team’s performances in the first 22 games were fluctuating, the results in the promotion play were much more in line with what we think the team is capable of (4-4-2, 16 points, tied second in the group). We have and will continue to invest in a squad that we believe can compete for promotion.
We are optimistic about the impact head coach Joey Gudjonsson and his staff can have on our players during the summer break, and we look forward to getting the season started in August. As always, our goal is to play entertaining football of high quality, which can compete with all teams in the league, and which makes the fans proud to come to Gladsaxe Stadium and be part of AB.
We continue to make significant organizational progress thanks to CEO, Sofie Brandi Petersen and her team. We have improved the matchday experience at the stadium with better catering options, the reopening of Café 1889 and new initiatives for our younger fans. We have also invested significantly in creating an environment that appeals to potential sponsors and business partners, including renovating the lounge and hosting several partner events. We value the contributions of all stakeholders to the progress of the club.
We have also worked closely with Gladsaxe Municipality on several fronts and are grateful for their continued partnership in our efforts to create a positive impact on the Gladsaxe area.
When we took over AB A/S in November 2022, it took a great financial effort to get the club back on track. Basic improvements to facilities and equipment were needed. We also chose to invest in technology, health equipment and better nutrition to keep our players healthy, as well as to rebuild the club’s website and social media channels to improve communication with fans.
In addition, we have improved the club’s relationship with the parent club by working closely with the academy and investing significantly in improvement plans that give academy players better opportunities to move up to the first team. Here we would like to send a thank you to AB chairman Ulrik Rasch, the parent club’s board and employees for their ongoing cooperation.
All of this is part of building a sustainable and successful club. These costs, several of which are one-off expenses, make up a significant part of the club’s operating deficit in 2023 of DKK 17.6 million. This level of investment (and operating deficit) is in line with our budget for year 1, and we have also followed the plan for the first half of 2024. We have recently injected additional capital into the club and will do so again if necessary, to give the club enough time to achieve promotion and create a more stable financial foundation.
When we took over AB A/S, we promised to be good stewards of the club in the long term, and we continue to work with this in mind every day. We are very much looking forward to what the future holds, and we look forward to a fantastic 2024-25 season.
Sincerely,
Five Castles Football Group
