US EditionCanada Soccer reports 2024 loss of $4M, looks to eliminate deficit in 2026
- Canada Soccer reported a $4 million loss in 2024 amid $37.546 million in revenue and $41.117 million in expenses across Canada.
- The deficit followed increased spending on national teams and administrative costs, after receiving a $5 million interest-free loan from FIFA's COVID-19 Relief Plan in June 2023.
- In 2024, Canada Soccer generated revenue from various sources, including $7.2 million from membership dues, $15.9 million derived from commercial and related fees, $3.7 million in government funding, $10.7 million through grants from FIFA and CONCACAF, as well as nearly $2 million obtained via philanthropic contributions.
- CEO Kevin Blue said the deficit was 'better than projected' but called operating at this magnitude unsustainable and emphasized plans to reduce the deficit in 2025 and eliminate it by 2026.
- Canada Soccer used cash reserves to cover the gap, now holds $5.9 million, and continues negotiations with Canadian Soccer Business over broadcasting rights amid player criticism that existing deals hinder growth.
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Canada Soccer reports loss of $4M in 2024, looks to eliminate deficit in 2026
Canada Soccer reported a loss of $4 million in 2024, up from $2.5 million the year before. The deficit is just under the $4.2 million the governing body had projected in early 2024. The gap was covered by cash reserves, of which Canada Soccer now has $5.9 million remaining.
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