Football Association of Wales records loss of £ 1million at start of Covid-19 pandemic

The Football Association of Wales (FAW) suffered a loss of more than £ 1million in the period covering the start of the coronavirus pandemic, according to newly released accounts.

The cancellation of home friendlies for senior men and the postponement of the Euro 2020 final contributed to the numbers.

Accounts for the year up to July 2020 – which covered the first three months of foreclosure restrictions – saw the governing body realize an after-tax loss of £ 1.032million after making a profit of £ 264,520 the previous year.

Revenue for the period fell 5% to £ 14.565million from £ 15.319million.

The report accompanying the accounts indicates that the association had prepared in case the entire 2020-21 season was played behind closed doors.

The FAW said it was confident that cash reserves (£ 8.9million as of September 2021) would allow it to meet any ongoing loss of income.

Welsh fans have returned under restrictions to watch the senior men’s squad in June 2021 for a pre-Euro friendly with Albania. Unlimited crowds returned at the start of the 2021-22 season.

Then-general manager Jonathan Ford – who stepped down in March this year – claimed in October 2020 that football in Wales was in a ‘dire situation’ with finances affected by the restrictions ongoing preventing supporters from attending matches at all levels.

Support was then received in the form of grants from the FIFA world football governing body, the national lottery and £ 1.5million support from the Welsh government. The FAW also used the UK government’s job retention program.

In recent accounts, the association’s largest revenue came from broadcast revenue (£ 6.36million), with pre-existing deals unaffected by the pandemic.

In the report submitted to Companies House, the FAW said it was confident the delayed Euros tournament – ultimately played between June and July 2021 – would help generate a profit.

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