The FA announce record investment into national game
Last Updated: 12/04/19 3:17pm
The Football Association has announced it invested a record £127.5m back into the national game for the 12 months up to the end of last July.
That investment, up £1m on the year before, was made possible by record turnover of £375.5m, up £24.3m on 2016-17, thanks largely to England's run to the World Cup semi-finals boosting broadcast and commercial income, and a full season of Wembley rent payments from Tottenham.
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But the FA's 2017-18 accounts, which were published on Friday, also revealed a significant fall in revenue from the Club Wembley hospitality business - down nearly £25m to £33.5m - as the original 10-year memberships at the rebuilt stadium expired.
This loss, however, was offset by Spurs' tenancy boosting the number of events at Wembley to 58, which included Ed Sheeran and Taylor Swift concerts, and the now-customary two NFL games.
The increased use of the national football centre by Gareth Southgate's players as they prepared for Russia 2018 also added up to a small reduction in income from the hotel at St George's Park.
Overall, the governing body made a loss after tax of £10.5m, but World Cup years usually bring higher costs, and the future looks positive as these accounts do not include the FA's new 12-year kit deal with Nike, an extension of Emirates' sponsorship of the FA Cup, the arrival of Budweiser as a sponsor, and the bumper deal with IMG and Pitch for the FA Cup's international broadcast rights.
In a statement, the departing FA chief executive Martin Glenn said: "With the FA in strong financial health, we are able to give even greater support to our key initiatives.
"Helping to support the England teams to be ready to win and prepared for tournaments has been one of our main priorities. The investment into the technical division and St George's Park has played a major role in the progress of all of our England teams.
"Our commitment to women's football has also never been greater. Record investment into the infrastructure has made a real difference, and, as a result, its popularity has grown significantly.
"The FA is in a good financial position, and I am very confident in the focus and direction of the organisation. We remain committed and steadfast in driving positive and meaningful change to ensure that English football, across all levels of the game, is 'for all'."