FAW shows further growth through record turnover and accelerated investment

The Football Association of Wales reports its financial results for the year ending June 2025 (FY25), a period of strategic investment and accelerated growth.

This investment has been possible thanks to a strong balance sheet and the visibility of guaranteed future income from hosting EURO 2028 (which also brings a significantly increased likelihood of tournament qualification as a host association).

Turnover reached £40.6m, up 25% from the previous record year, with gross profit at £27.7m and a stable gross margin of 68%.

The Association’s net assets stand at £11.8m, supported by cash reserves of £16.1m. FAW generated an operating loss of £5.0m, primarily due to a conscious decision to invest across all areas of Welsh football, supported by the visibility of Euro 28 hosting fees.

The net loss after tax of £3.4m for FY25, was a result of healthy returns from investments together with deferred tax movements relating to the transfer of the investment portfolio.

The key elements supporting the delivery of FAW’s record revenue numbers:

Increased attendances at both Men’s & Women’s home matches

Nations League winner’s prize money for Men’s National Team

Women’s National Team qualifying for their first major international tournament in December 2024

Increase in UEFA funding supporting the expansion of the Cymru Premier

Funding support from the Welsh Government to expand FAW headquarters

Further collaboration with Department of Culture Media and Sport (DCMS) and the English Premier League to enable the Cymru Football Foundation (CFF) to invest in community grassroots facilities across Wales.

FAW Chief Finance & Operations Officer, John Young, said: “The disappointment of the Men’s National Team not reaching the World Cup is still fresh in all our minds, but our financial results and strategic investments position us for long-term success in future tournaments.

“Our commitment to balancing the requirements of high performance on the pitch with sustainable growth, innovation and inclusivity will ensure Welsh football continues to thrive.

“The organisation recognises that operational losses are not viable over the long term but believes that, given the strength of our balance sheet, continued investment is justified to strengthen our domestic league, provide our national teams with the best possible opportunity for tournament qualification and success and to support the growth of the grassroots game.

“Management will continue to balance financial discipline with strategic investment to support both immediate sporting objectives and the organisation’s longer-term financial sustainability”

The FAW is currently consulting with stakeholders on a new 10-year strategy which will run until 2036. In the FY25 reporting period, the association has focused on its commitment to deliver the ‘Ein Cymru / Our Wales’ Strategy, including:

Strengthening player pathways and talent development

Supporting the growth of the game in all areas of grassroots football

Investing in grassroots facilities and community engagement

Enhancing equality, diversity and inclusion initiatives

The FAW Chair of Finance, Audit & Risk Committee, Carol Bell, said: “The FAW has been able to continue to invest in the game in Wales and deliver on its Ein Cymru / Our Wales strategy thanks to the strength of its balance sheet, long term vision and the commitment of its partners in both Welsh and UK Government.

“Investment in Women’s football in Wales, for example, was a major plank in this strategy and during FY25 our national team qualified to play in its first major tournament in Switzerland which took place just after the year end. We are well positioned for the future with a disciplined approach to investment, risk management and financial sustainability.”

The FAW acknowledges the unwavering support from government partners and the Cymru Football Foundation, whose disbursement of grants has funded significant improvements in facilities and increased opportunities to play football across Wales. With a renewed strategy now in consultation and with strong financial foundations, the FAW remains committed to giving future generations the best opportunities in football.

FAW CEO, Noel Mooney, said: “We have more than doubled the revenues of FAW in just five years. Shortly, we will launch a new 10-year strategy to map out the path to sustainable success through to 2036.

“We have grown participation from 90,000 to 120,000 over the past four years and we will now set our sights on growing participation further to 160,000 players alongside attracting more match officials, more coaches and more volunteers to be part of our football family in Wales.

“This is a time of investment for us. For the first time, we have invested heavily in the domestic game to grow football here and, next season, as we move to 16 teams, will be very exciting. Building the Adran Premier strategy is also underway to grow the Women’s domestic top league. Across Wales, we are investing in badly needed facilities, both at elite and grassroots level, to ensure we can grow the game for many years to come.

“Our Men’s National Team are looking forward to competing in Nations League A this Autumn and our Women’s National Team are focused on returning to Nations League A on the back of our first ever major tournament in Switzerland last Summer.

“We are currently reviewing the resources required to deliver our new strategy in the most efficient, effective and sustainable manner leading to an even brighter future for Welsh football.”

Click here to read article