The Malta Football Association registered a deficit of €2,271,823 after depreciation and finance costs over the last nine months of 2021.

In fact, the Financial Statement, which was presented and approved at the Malta FA General Assembly, covered 9 months, between April and December 2021, as the Association changes its financial year to align with the calendar year. The Financial  Statements were presented by the Association Treasurer, Ivan Mizzi. 

In the International sector, the excess of expenditure over income amounted to €661K. The income generated amounted to €3,363,316 (mainly due to TV rights €1.8m, UEFA grant €696K and sponsorships €446K which amounted to 90% of the income). On the other hand, expenses went up to €4,023,945. €1.9m were spent on travel and accommodation – mainly due to the use of charter flights and the increase in the number of bed nights due to COVID protocols. As from this year, this also included the operations of the Inhobb il-Football Foundation which included an increase in human resources.

In the Commercial sector, the association registered an excess of expenditure over income of €392K. The income of €531,992 was mainly due to the €209K from the FIFA Forward and €58K UEFA grants. Expenditure, on the other hand, amounted to €924,044. 99% of this figure was related to maintenance, wages and salaries although the department benefitted from the COVID wage supplement.

In the Administration sector, an excess of expenditure over income before depreciation and finance cost of €300K was registered. The income amounted to €1,209,165, coming mainly from FIFA Forward €417K and the UEFA HatTrick programme €751K). On the other hand, the expenditure amounted to €1,517,945 with €1.2m being for wages although there were €275 from the COVID wage supplement.

With regards to the Domestic Competitions sector, the excess of expenditure over income was €182K. The income of €1,167,097 was mainly obtained from the UEFA HatTrick Solidarity payments €460, €105K from sponsorships, €75 from the Referees Convention and €258K from gate money. On the other hand, the expenditure amounted to €1,349,185 which included €257K in referees’ fees, €150K in club schemes. €106 in lease of pitches and €474K in other match expenses.

Therefore the income for the Malta FA between April 1st and December 31st amounted to €6,271,570 while the expenditure amounted to €7,815,120. The deficit before depreciation and finance cost amounted to €1.5m. However, including the grant of €262K and the depreciation and finance costs, the deficit would go up to €2.271,823 deficit

With €460,879 in accumulated fund brought forward the deficit carried forward is €1,810,994.

Meanwhile Ivan Mizzi revealed that as from 2023, there will be €1.1 million increase in funds from FIFA and UEFA.

The MFA Treasurer concluded by saying that after two years of the pandemic which brought new expenses and less income, the Malta FA plans to be more sustainable, adding that the Finance Department aims at changing the situation from a deficit to a surplus. He said that this could only be achieved by decreasing the expenses and generating new sources of income.