Financial update from the new general secretary. Even getting a financial update from the organization just seems like a breath of fresh air.
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Canada Soccer’s budget for FY24 shows a $4M operating deficit on total expenses of $30M.
For context, the US Soccer Federation reported a $40M deficit on $188M of total expenses for FY23, is forecasting a $3M surplus on $184M of total expenses in FY24, and is planning for a $9.6M surplus on $201M in spending (USD) in FY25. Football Australia reported a $669,000 surplus on $112M in expenses (AUD) in FY23.
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Thinking ahead my initial assessment is that Canada Soccer must grow annual revenues by between $10M and $12M to robustly fund its programs and serve its stakeholders – from grassroots up to the national teams.
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The first concept is based on Consumer Price Index (CPI). Canada Soccer has forgone $5.84M in revenue since 2017 because the Player Levy has not been adjusted for CPI. We are discussing a true-up of the Player Levy for CPI along with a proportional adjustment of Membership Affiliation Fees.
The second concept is an incremental investment that would direct additional funding specifically towards the launch of Project 8 and in support of our youth national teams. These are timely and strategically important investments. Project 8 ensures an equitable competitive pathway into professional football. And additional support for our youth national teams is important in light of FIFA’s recently announced expansions of international youth competitions.
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https://canada-soccer-pressroom.prez...pdate-finances