SFA sets financial strength records

The Scottish Football Association had turnover of nearly GBP 23 million for the year ending Dec. 2006, as the organisation posted its accounts earlier this week.

The SFA had a gross profit of more than GBP 11.3 million for the SFA, which has stated this year could even be better financially.

The total turnover was GBP 22,894,292, which is GBP 1 million better than the previous record of GBP 21,975,301, set in 2005. The SFA also enjoyed an annual operating profit of GBP 368,106, more than doubling its previous profit.

The SFA's net profit after taxation was GBP 735,926, nearly tripling the previous year

SFA chief executive Gordon Smith pointed toward a variety of factors for the success, but the national team's stands out.

"The current success being enjoyed by the national team is clearly a factor in generating income on the commercial front and we should also feel the benefit of that in this year's accounts," Smith told the scotsman.com. "What that allows the SFA to do is to pay for the rest of our international teams, in the men and women's games, right down to youth level. They run at a loss in their own right, but operating them successfully is crucial to the overall development of Scottish football."

More good news for Smith, as he confirmed that the SFA are now close to securing a new sponsor for the revamped national cup competition.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.