The Belgian Football Federation reported a loss of 6 million euros instead of the million euros in expected profit. The pandemic has hit the clubs.
The pandemic has severely affected Belgian football clubs. The Belgian Football Federation (URBSFA: Royal Belgian Union of Association Football Societies) announced this Saturday a loss of some 6 million euros last year, when she had planned to make a profit of around one million euros.
“The commercial revenues of sponsors and the media have unfortunately been wiped out.”
The Belgian Football Federation
“URBSFA and its two wings, ACFF and Voetbal Vlaanderen, have not escaped the repercussions of the health crisis and have recorded 22 million euros in revenue less than forecast budgetary “, indicates the Federation in a press release.” The commercial incomes of the sponsors and the media, which had been revised upwards, were unfortunately reduced to nothing because of the loss of income from Red Devils and Red Flames matches as well as due to the postponement of Euro 2020. “
Already 8 million disbursed in 2021
URBSFA had to draw on its reserves to support clubs in difficulty. “The board of directors has partially exempted all clubs from paying their federal contributions and insurance premiums (5 out of 9 months), which is equivalent to a support amounting to 3.8 million, and this, especially for amateur clubs “, specifies the press release.
“We will make up for the losses of 2020 over the next two years, notably thanks to the profits generated by several major tournaments in the near future.”
CEO of URBSFA
In addition, professional clubs received their reimbursements more quickly for a total amount of 2.3 million and benefited from theexemption from payment of federal taxes on subscriptions and business seats.
These support measures have been extended this year. So far, the Federation has already disbursed 8 million euros in this context. She congratulates herself on having been able save around 15 million euros by reducing costs, in particular through the cessation of competitions.
Two independent directors
The Federation says confident for the future. “We will compensate for the losses of 2020 over the next two years, in particular thanks to the profits generated by several major tournaments organized soon, namely Euro 2020, the Final Four of the Nations League at the end of 2021 and the 2022 World Cup,” assured Peter Bossaert, CEO of URBSFA.
In addition, the Belgian Football Federation announced the appointment of two independent directors to its board of directors, a first. “Today (Saturday, editor’s note), the date is historic since the general assembly of the Belgian Football Federation has appointed Ms. Pascale Van Damme and Mr. Paul Van den Bulck as independent directors within its small board of directors “, indicates URBSFA.
The Federation says it is attentive to good governance and wants to introduce more diversity within its bodies.