The FA Reports Strong Financial Performance
Tue 24th Sep 2013 | Money & Finance
The FA Group, which comprises of The FA, Wembley Stadium and St. George's Park has announced its financial results for the year ending 31 December 2012.
Reporting a strong financial performance in 2012, the Group delivered a turnover of over £300m and investments back into the game also exceeded £100m, both for the fourth consecutive year.
Commenting on the figures, Andrew Crean, The FA Group’s Chief Financial Officer said: “The FA Group is in a strong financial position, increased cash reserves gives us some flexibility around investments and our strategy looking forward. The FA Board is committed in to continuing or increasing its investment into the game where it’s prudent to do so.
“The Board was pleased with a positive set of results, demonstrated good growth in key areas and The FA Group is well placed to deliver significant investment into football.”
The Group’s net assets also rose, with assets rising 34% to £139m, and cash reserves increased by £25m during the year to end on £96m.
The FA’s General Secretary Alex Horne also expressed his satisfaction with the figures, and the long-term goals of the Group.
He said: “We have a four-year plan to 2018 and the positive news is that we’re filling in large chunks of that. The domestic broadcast deal obviously being a very important piece of that, and that being over a four-year plan gives us further comfort over the next four-year period.
“In the next year I’m confident that we’ll see our income streams at or above the levels of the £300m that we’ve seen for that last four years, which would absolutely reinforce our ability to reinvest £100m per year, or more, over the next five years to 2018. So we’re in a really strong financial position.”
Meanwhile, Roger Maslin, managing director of Wembley National Stadium, said the positive figures highlighted the stadium’s continued commitment to delivering a world-class fan experience.
“It’s all about delivering that best stadium in the world. There are obviously those three elements of it: it’s all about having the best infrastructure, best events and best service,” he said.
“2013, as a calendar year, is probably the best we’ve had since we reopened. Not only on the backdrop of the Olympics, but coming through with our normal diet of tremendous event content."
Click here to read The Football Association Limited Report and Financial Statements 31 December 2012 in full.
Posted by: Aaron Gourley
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