Canada Soccer reports 2024 loss of $4 million, looks to eliminate deficit in 2026

Neil Davidson · The Canadian Press

· Posted: May 28, 2025 2:48 PM EDT | Last Updated: 5 hours ago

Canada Soccer reported a nonaccomplishment of $4 cardinal successful 2024, up from $2.5 cardinal the twelvemonth before.

The shortage is conscionable nether the $4.2 cardinal the governing assemblage had projected successful aboriginal 2024. The spread was covered by currency reserves, of which Canada Soccer present has $5.9 cardinal remaining.

"Better than projected but we each cognize that operating astatine levels of shortage of this magnitude is not sustainable," Canada Soccer main enforcement serviceman and wide caput Kevin Blue said successful an interview. " And it is our intent to trim the shortage for 2025 and past destruct the shortage successful '26."

The relation has projected a $2.4 cardinal shortage successful 2025.

The governing assemblage reported 2024 gross of $37.546 cardinal and expenses of $41.117 million. In 2023, the figures were $34.505 cardinal successful gross and $37.187 successful expenses.

The 2024 gross included "approaching $2 million" successful philanthropy. Blue says that is portion of much than $10 cardinal already committed, with the remainder coming successful aboriginal years. And helium anticipates much to come.

Such gifts helped Canada Soccer prosecute nationalist squad coaches Jesse Marsch and Casey Stoney.

WATCH | NSL midseason highlights, positive Bayern's caller star, Vanessa Gilles:

The 2024 gross includes $7.2 cardinal successful rank fees, $15.9 cardinal successful commercialized and different fees, $3.7 successful authorities grants and $10.7 cardinal successful FIFA and CONCACAF grants.

Expenses included $21.1 cardinal spent connected nationalist teams and $6 cardinal successful "general and administrative" costs.

According to the fiscal statement, Canada Soccer is entitled to person betwixt $3 cardinal and $4 cardinal annually from Canadian Soccer Business, which handles the association's broadcasting and sponsorship rights.

The CSB agreement, which has been decried by nationalist squad players who judge the woody is holding backmost the crippled successful Canada, runs done Dec. 1, 2027, "with a imaginable extension, astatine the discretion of CSB, to Dec. 31, 2037," according to the fiscal statement.

Canada Soccer and CSB, whose capitalist radical and committee includes the Canadian Premier League owners, person been successful negotiations astir restructuring the rights agreement.

The fiscal connection besides notes a $5 cardinal US indebtedness that Canada Soccer received from FIFA successful June 2023 arsenic portion of the satellite governing body's COVID-19 Relief Plan "to assistance alleviate the economical effects of the planetary COVID-19 pandemic."

Under the indebtedness agreement, $4 cardinal US is to beryllium spent connected nationalist teams of each property categories with $1 cardinal US to beryllium spent connected "staff costs and the (re-) hiring of indispensable unit wherever necessary."

The loan, which does not transportation interest, is to beryllium repaid $1 cardinal US a twelvemonth from 2027 done 2031.