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Globe and Mail
3 days ago
- Business
- Globe and Mail
Canada Soccer reports 2024 loss of $4-million, 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. 'Better than projected but we all know that operating at levels of deficit of this magnitude is not sustainable,' Canada Soccer chief executive officer and general secretary Kevin Blue said. 'And it is our intent to reduce the deficit for 2025 and then eliminate the deficit in '26.' The association has projected a $2.4-million deficit in 2025. The governing body reported 2024 revenue of $37.546-million and expenses of $41.117-million. In 2023, the figures were $34.505-million in revenue and $37.187-million in expenses. The 2024 revenue included 'approaching $2 million' in philanthropy. Blue says that is part of more than $10-million already committed, with the rest coming in future years. And he anticipates more to come. Such gifts helped Canada Soccer hire national team coaches Jesse Marsch and Casey Stoney. The 2024 revenue includes $7.2-million in membership fees, $15.9-million in commercial and other fees, $3.7-million in government grants and $10.7-million in FIFA and CONCACAF grants. Expenses included $21.1-million spent on national teams and $6-million in 'general and administrative' costs. According to the financial statement, Canada Soccer is entitled to receive between $3-million and $4-million annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights. The CSB agreement, which has been decried by national team players who believe the deal is holding back the game in Canada, runs through Dec. 1, 2027, 'with a possible extension, at the discretion of CSB, to Dec. 31, 2037,' according to the financial statement. Canada Soccer and CSB, whose investor group and board includes the Canadian Premier League owners, have been in negotiations about restructuring the rights agreement. The financial statement also notes a US$5-million loan that Canada Soccer received from FIFA in June 2023 as part of the world governing body's COVID-19 Relief Plan 'to help alleviate the economic effects of the global COVID-19 pandemic.' Under the loan agreement, US$4-million is to be spent on national teams of all age categories with US$1-million to be spent on 'staff costs and the [re-] hiring of essential staff where necessary.' The loan, which does not carry interest, is to be repaid US$1-million a year from 2027 through 2031.
Edmonton Journal
3 days ago
- Business
- Edmonton Journal
Canada Soccer reports 2024 loss of $4 million, looks to eliminate deficit in 2026
Article content Canada Soccer reported a loss of $4 million in 2024, up from $2.5 million the year before. Article content 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. 'Better than projected but we all know that operating at levels of deficit of this magnitude is not sustainable,' Canada Soccer chief executive officer and general secretary Kevin Blue said in an interview. ' And it is our intent to reduce the deficit for 2025 … and then eliminate the deficit in '26.' Article content The association has projected a $2.4 million deficit in 2025. The governing body reported 2024 revenue of $37.546 million and expenses of $41.117 million. In 2023, the figures were $34.505 million in revenue and $37.187 in expenses. The 2024 revenue included 'approaching $2 million' in philanthropy. Blue says that is part of more than $10 million already committed, with the rest coming in future years. And he anticipates more to come. Such gifts helped Canada Soccer hire national team coaches Jesse Marsch and Casey Stoney. The 2024 revenue includes $7.2 million in membership fees, $15.9 million in commercial and other fees, $3.7 in government grants and $10.7 million in FIFA and CONCACAF grants. Expenses included $21.1 million spent on national teams and $6 million in 'general and administrative' costs. According to the financial statement, Canada Soccer is entitled to receive between $3 million and $4 million annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights. Article content The CSB agreement, which has been decried by national team players who believe the deal is holding back the game in Canada, runs through Dec. 1, 2027, 'with a possible extension, at the discretion of CSB, to Dec. 31, 2037,' according to the financial statement. Canada Soccer and CSB, whose investor group and board includes the Canadian Premier League owners, have been in negotiations about restructuring the rights agreement. The financial statement also notes a US$5 million loan that Canada Soccer received from FIFA in June 2023 as part of the world governing body's COVID-19 Relief Plan 'to help alleviate the economic effects of the global COVID-19 pandemic.' Under the loan agreement, US$4 million is to be spent on national teams of all age categories with US$1 million to be spent on 'staff costs and the (re-) hiring of essential staff where necessary.' The loan, which does not carry interest, is to be repaid US$1 million a year from 2027 through 2031. Latest National Stories
National Post
3 days ago
- Business
- National Post
Canada Soccer reports 2024 loss of $4 million, looks to eliminate deficit in 2026
Article content Canada Soccer reported a loss of $4 million in 2024, up from $2.5 million the year before. Article content Article content 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. Article content 'Better than projected but we all know that operating at levels of deficit of this magnitude is not sustainable,' Canada Soccer chief executive officer and general secretary Kevin Blue said in an interview. ' And it is our intent to reduce the deficit for 2025 … and then eliminate the deficit in '26.' Article content Article content The association has projected a $2.4 million deficit in 2025. Article content The governing body reported 2024 revenue of $37.546 million and expenses of $41.117 million. In 2023, the figures were $34.505 million in revenue and $37.187 in expenses. Article content The 2024 revenue included 'approaching $2 million' in philanthropy. Blue says that is part of more than $10 million already committed, with the rest coming in future years. And he anticipates more to come. Article content Such gifts helped Canada Soccer hire national team coaches Jesse Marsch and Casey Stoney. Article content The 2024 revenue includes $7.2 million in membership fees, $15.9 million in commercial and other fees, $3.7 in government grants and $10.7 million in FIFA and CONCACAF grants. Article content Expenses included $21.1 million spent on national teams and $6 million in 'general and administrative' costs. Article content According to the financial statement, Canada Soccer is entitled to receive between $3 million and $4 million annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights. Article content The CSB agreement, which has been decried by national team players who believe the deal is holding back the game in Canada, runs through Dec. 1, 2027, 'with a possible extension, at the discretion of CSB, to Dec. 31, 2037,' according to the financial statement. Article content Canada Soccer and CSB, whose investor group and board includes the Canadian Premier League owners, have been in negotiations about restructuring the rights agreement. Article content The financial statement also notes a US$5 million loan that Canada Soccer received from FIFA in June 2023 as part of the world governing body's COVID-19 Relief Plan 'to help alleviate the economic effects of the global COVID-19 pandemic.' Article content
Toronto Sun
3 days ago
- Business
- Toronto Sun
Canada Soccer reports 2024 loss of $4 million, looks to eliminate deficit in 2026
Published May 28, 2025 • 2 minute read Canada men's national soccer team head coach Jesse Marsch (left to right), Canada Soccer CEO and General Secretary Kevin Blue and Canada women's national soccer team head coach Casey Stoney are photographed in Toronto on Monday, March 3, 2025. Photo by Chris Young / The Canadian Press Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Canada Soccer reported a loss of $4 million in 2024, up from $2.5 million the year before. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account 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. 'Better than projected but we all know that operating at levels of deficit of this magnitude is not sustainable,' Canada Soccer chief executive officer and general secretary Kevin Blue said in an interview. ' And it is our intent to reduce the deficit for 2025 … and then eliminate the deficit in '26.' The association has projected a $2.4 million deficit in 2025. The governing body reported 2024 revenue of $37.546 million and expenses of $41.117 million. In 2023, the figures were $34.505 million in revenue and $37.187 in expenses. The 2024 revenue included 'approaching $2 million' in philanthropy. Blue says that is part of more than $10 million already committed, with the rest coming in future years. And he anticipates more to come. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Such gifts helped Canada Soccer hire national team coaches Jesse Marsch and Casey Stoney. The 2024 revenue includes $7.2 million in membership fees, $15.9 million in commercial and other fees, $3.7 in government grants and $10.7 million in FIFA and CONCACAF grants. Expenses included $21.1 million spent on national teams and $6 million in 'general and administrative' costs. According to the financial statement, Canada Soccer is entitled to receive between $3 million and $4 million annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights. The CSB agreement, which has been decried by national team players who believe the deal is holding back the game in Canada, runs through Dec. 1, 2027, 'with a possible extension, at the discretion of CSB, to Dec. 31, 2037,' according to the financial statement. This advertisement has not loaded yet, but your article continues below. Canada Soccer and CSB, whose investor group and board includes the Canadian Premier League owners, have been in negotiations about restructuring the rights agreement. The financial statement also notes a US$5 million loan that Canada Soccer received from FIFA in June 2023 as part of the world governing body's COVID-19 Relief Plan 'to help alleviate the economic effects of the global COVID-19 pandemic.' Under the loan agreement, US$4 million is to be spent on national teams of all age categories with US$1 million to be spent on 'staff costs and the (re-) hiring of essential staff where necessary.' The loan, which does not carry interest, is to be repaid US$1 million a year from 2027 through 2031. Canada Canada Tennis Money News Music
CTV News
3 days ago
- Business
- CTV News
Canada Soccer reports 2024 loss of $4 million, looks to eliminate deficit in 2026
Canada men's national soccer team head coach Jesse Marsch (left to right), Canada Soccer CEO and General Secretary Kevin Blue and Canada women's national soccer team head coach Casey Stoney are photographed in Toronto on Monday, March 3, 2025. THE CANADIAN PRESS/Chris Young 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. 'Better than projected but we all know that operating at levels of deficit of this magnitude is not sustainable,' Canada Soccer chief executive officer and general secretary Kevin Blue said in an interview. " And it is our intent to reduce the deficit for 2025 … and then eliminate the deficit in '26." The association has projected a $2.4 million deficit in 2025. The governing body reported 2024 revenue of $37.546 million and expenses of $41.117 million. In 2023, the figures were $34.505 million in revenue and $37.187 in expenses. The 2024 revenue included 'approaching $2 million' in philanthropy. Blue says that is part of more than $10 million already committed, with the rest coming in future years. And he anticipates more to come. Such gifts helped Canada Soccer hire national team coaches Jesse Marsch and Casey Stoney. The 2024 revenue includes $7.2 million in membership fees, $15.9 million in commercial and other fees, $3.7 in government grants and $10.7 million in FIFA and CONCACAF grants. Expenses included $21.1 million spent on national teams and $6 million in 'general and administrative' costs. According to the financial statement, Canada Soccer is entitled to receive between $3 million and $4 million annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights. The CSB agreement, which has been decried by national team players who believe the deal is holding back the game in Canada, runs through Dec. 1, 2027, 'with a possible extension, at the discretion of CSB, to Dec. 31, 2037,' according to the financial statement. Canada Soccer and CSB, whose investor group and board includes the Canadian Premier League owners, have been in negotiations about restructuring the rights agreement. The financial statement also notes a US$5 million loan that Canada Soccer received from FIFA in June 2023 as part of the world governing body's COVID-19 Relief Plan 'to help alleviate the economic effects of the global COVID-19 pandemic.' Under the loan agreement, US$4 million is to be spent on national teams of all age categories with US$1 million to be spent on 'staff costs and the (re-) hiring of essential staff where necessary.' The loan, which does not carry interest, is to be repaid US$1 million a year from 2027 through 2031. This report by The Canadian Press was first published May 28, 2025. Neil Davidson, The Canadian Press
