Football Australia confirms RECORD deficit of $8.5million - after revenue grew to $124million in 2024
The substantial deficit comes despite FA's revenue growing to $124million last year, with the figure confirmed at an annual general meeting on May 23.
Isaac was also unanimously re-elected as chairman - before revealing FA has invested in 'enhanced financial strategy, management and governance systems' to address their financial challenges.
In terms of the record $8.5million loss, Isaac pointed to a myriad of reasons, notably heavier investments in national youth teams and $4.1million owed from Australian Professional Leagues, the organisation who run the A-Leagues.
'We are not satisfied and (will) look towards continued improvement,' Isaac said.
'That is our obligation to grassroots football and all our football stakeholders.'
The $8.5 million deficit also comes after James Johnson's shock resignation as FA chief executive officer earlier this month.
Former Matildas star Heather Garriock has since been appointed interim CEO at Football Australia.
Isaac believes Garriock offers 'an unmatched passion for the game, deep football knowledge, executive acumen and a clear vision for the future.'
'We are confident in her ability to lead Football Australia with strength, unity and a mindset of service that reflects the values of our entire football family,' he said.
In his chairman's report, Isaac stated he was 'happy' with the $124million in revenue - before stressing it is vital 'there continue to be opportunities to increase the value of our brands and commercial activities to help reinvestment into our game from national teams and especially to the grassroots.'
Isaac also wants to see a 'football ecosystem that is united, resilient and ready for the future.'
In the short and long term, the FA are tipped to announce Joe Montemurro as the new Matildas coach in June, support the Socceroos' World Cup qualification campaign, and deliver a successful AFC Women's Asian Cup on home soil next year.
Focus will also be placed on laying the foundation for a national second-tier competition, to be known as the Australian Championship.
According to the Sydney Morning Herald, Johnson was recently appointed to a new role in Canadian football as chief executive of Canada Soccer Business.
Johnson will oversee the sport's commercial operations ahead of their home World Cup in 2026, to be also co-hosted by the United States and Mexico.
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