Local Sport > National Football > FINANCIAL REPORT UNDERLINES MFA’S COMMITMENT TOWARDS CLUBS

FINANCIAL REPORT UNDERLINES MFA’S COMMITMENT TOWARDS CLUBS

The Malta Football Association has published its financial report for the year ending 31st March, 2018.

The financial report, presented by Ivan Mizzi, the Malta FA Treasurer during today's Annual General Meeting, underlines the Malta FA’s commitment towards it clubs as the expenditure in this sector accounts for almost half of the association’s cash outflow in season 2017-18, which amounted to €8 million.

Twenty-nine per cent of this global expenditure was spent on domestic competitions and assistance to clubs while the sports facilities – hiring of stadia for domestic matches, payments to match officials, stadium personnel etc – accounted for 20 per cent.

The Malta FA’s operational costs represent 27 per cent of the annual expenditure with 24 per cent taken up by national teams and youth development.

The costs related to sports facilities went up from €1.2m to €1.5m. This was due to the upkeep of stadia and the MFA training grounds plus extensive maintenance works carried out before the 2018 World Cup qualifier between Malta and England, played on September 1, 2017.

The audited accounts show that the net value of the Malta FA’s assets rose from €15.5 million to €19 million while the income from the Association’s operation increased to €3 million.

The turnover related to the national teams and youth development in season 2017-18 was close to the €2.4m mark. The principal sources of income were television rights, the gate receipts form the Malta-England World Cup qualifier and sponsorships.

Expenses in this area went up from €1.6m to €1.9m with travelling and accommodation costs for the national teams at all levels, from U-16s to the seniors (men and women) totalling over €726,000 – an average of €12,000 per international match played.

The Malta FA posted a surplus before depreciation of just over €1m for season 2017-18 and surplus of balance carried forward of €418,000 in season 2017-18.


SOCIAL RESPONSIBILITY

Over the past 12 months, the Malta FA devoted €88,000 from its Football Social Responsibility fund to support good causes.

For season 2018-19, the Malta FA has a budget of €114,000 for social responsibility initiatives. A total of 20 non-governmental organisations are expected to benefit from this fund.

Copyright: www.mfa.com.mt
 
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