How come KV Mechelen’s annual accounts have been dark red for two years? “If you don’t want to be relegated, you have to live beyond your means”

KV Mechelen has never spent more than a million euros on a player on the transfer market. It has finished in the left column three times in the past four seasons and only the traditional G6 teams attract more people on average at home matches. And yet Malinwa’s annual accounts turn dark red for the second year in a row. How is that possible? Sports economist Wim Lagae explains.

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