Canada Soccer says it is expecting a $2.4-million deficit this year, down from $4 million in 2024.
The governing body also anticipates 2025 to be the final year of operating losses, with a surplus expected in 2026 and “for the foreseeable future.”
Canada Soccer made the announcement Tuesday, which marks 500 days to the 2026 World Cup kicking off in Canada.
In 2023, the last figures currently available, Canada Soccer reported revenue of $34.5 million and expenses of $37.2 million, a shortfall of $2.68 million.
Those numbers were substantially higher in 2022, due to the men’s World Cup which Canada took part in for the first time since 1986. Revenue, helped by an $11-million increase in FIFA and CONCACAF grants, was reported at $49.2 million in 2022 with expenses at $53.9 million, a shortfall of $6.3 million.
The 2024 budget figures are due to be revealed in May at Canada Soccer’s annual general meeting.
“We are continuing to work on different levers for revenue generation, including philanthropy, which for the first time will become a key source of revenue in our budget,” Canada Soccer said in a joint statement from CEO Kevin Blue and president Peter Augruso. “We look forward to a formal launch of additional fundraising initiatives later in the year.”
Under Blue, Canada Soccer got help from the private sector in getting the funds to hire both men’s coach Jesse Marsch and women’s coach Casey Stoney.
Stoney, hired last month, is the first beneficiary of a new fund established specifically to support women in elite coaching.
And last May, when Marsch was appointed, Canada Soccer said the hire was helped by “major” philanthropic contributions from the owners of the three Canadian-based MLS clubs — Vancouver Whitecaps, Montreal’s Joey Saputo, and Maple Leaf Sports and Entertainment — and supplemented by other private donors.
Blue, who joined Canada Soccer last February, was well-versed in fundraising in his past jobs at the University of California, Davis, and Stanford and as chief sports officer for Golf Canada.
Canada Soccer says it also remains “actively engaged in improving our commercial business and the associated rights agreements.”
The organization has been in talks with Canadian Soccer Business about a reworked agreement. CSB, whose investor group and board includes the Canadian Premier League owners, looks after marketing and broadcast rights for both Canada Soccer and the CPL.
National team players have complained the CSB agreement is holding the game back and preventing national teams from getting the preparation they need.
Canada Soccer is believed to receive some $4 million a year under the current CSB deal as “the beneficiary of a rights fee guarantee.” That amount has been boosted by some $500,000 each year leading up to the 2026 World Cup.
Canada Soccer has said sealing the deal on a long-awaited labour agreement with its men’s and women’s national teams is contingent on a reworked deal with Canadian Soccer Business.
Tuesday’s statement also referred to the drone-spying scandal at the Paris Olympics that cost women’s coach Bev Priestman and two of her staff their jobs.
“Canada Soccer is turning the page on the challenges encountered at the 2024 Paris Olympic Games,” the statement said. “With a heightened focus on integrity in our organization, we are continuing to learn from past challenges, working diligently on enhancing our governance, and taking the necessary steps to ensure everyone at Canada Soccer upholds the values we share.”
The statement adds that Canada Soccer is updating employment contracts to include “mandatory reporting clauses, adopting new software for confidential reporting, updating our code of conduct and ethics, and enhancing training for staff.”
The statement also says the organization is looking to capitalize on the “once-in-a-generation opportunity” that is the 2026 World Cup and “finalizing our strategic priorities for 2025 through 2027.”
This year will also see Canada Soccer mark the 25th anniversary of the Canadian men’s Gold Cup victory and provide details on how Canadians can get World Cup tickets.
Canada Soccer says it is also exploring more competitive structures to advance the women’s game in Canada, in conjunction with the launch of the new Northern Super League.
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This report by The Canadian Press was first published Jan. 28, 2025
