The FA reveals increased profits in latest financials

The Football Association (FA) has published its annual report for the financial year ending 31st July 2024, revealing increased turnover and profit.

Total turnover reached £551.2m, up from £481.8m in 2022-23, with an operating profit of £64.1m compared to £39.4m the previous year.

The FA reinvested £169.3m into the game during the 2023-24 season, an increase of £10.9m on the prior year. These results combine figures from Football Association Limited, Wembley National Stadium Limited, and the National Football Centre Limited.

The improved financial performance was attributed largely to a £22.7m increase in broadcast turnover and an £11m rise in sponsorship and licensing turnover.

Key commercial activities during the period included confirming Adobe as the title partner for the Women’s FA Cup, securing a new four-year domestic broadcast agreement for the Emirates FA Cup with TNT Sport while retaining free-to-air coverage with the BBC, extending partnerships with Emirates and Nike, and adding E.ON and Chase to its commercial roster.

The report also noted exceeding targets for grassroots pitch delivery (6,200 quality pitches by January 2024), growth in digital platform users (Full-Time reaching 2.3m monthly users), and an increase in referee registrations (37,000, up 17%).

FA Chief Executive, Mark Bullingham, said, “The 2023-24 campaign was the final year of our ‘Time For Change’ strategy, and I’m very proud that we’ve been able to successfully exceed many of the challenging targets that we set ourselves.

“This includes making significant progress across our range of key strategic priorities to support the growth and development of English football at every level.

“Our talented and passionate team across the organisation have been at the forefront of driving the meaningful change that we’ve seen both on and off the pitch, and I was delighted that we were named as the ‘Sports Organisation of the Year’ at the prestigious Sports Industry Awards last year to recognise and pay tribute to their wonderful work.

“As we enter our new and exciting 2024-28 strategic cycle , we do so in robust financial health, and with a clear and collective focus to inspire positive change through football.”