FAM revenue hits k1.2bn
For the first time Football Association of Malawi (FAM) revenue hit K1.2 billion (about $1.8million) in the 2014/2015 financial year, according to the association’s audited accounts.
The revenue from various sources such as Fifa, government, gate collections, television rights and sponsors is double that of the previous year.
In 2013/2014 financial year, FAM’s total revenue was at K607 million (about $942 655).
But as of June 30 2015, FAM had K377 million (about $585 471), according to a financial report prepared by AMG Global.
In 2015, FAM got K803 million (about $1.2million) in grants with K54 million coming from Fifa Financial Assistance Programme, K425 million (about $660 014) bonus from Fifa, K168 million from government funding and K89 million Carlsberg sponsorship.
FAM’s share of gate collections was at K55 million, competitions brought in K89 million while television rights raised K211 million.
About K663 million was spent on operating expenses. Out of this amount, K357 million was spent on the national team, K64 million was spent on competitions while Under-17 and Under-20 national team assignments got K57 million with K244 million being administration expenses.
FAM president Walter Nyamilandu said much of the revenue was for the association’s infrastructure and assets.
“During the year FAM continued to reinforce infrastructure and asset base by successfully negotiating and launching Goal Project Three, and Four in Mzuzu which comprises a mini technical centre and hostels.
“FAM also undertook major steps in bringing Goal Project Five to Lilongwe with the acquisition of land situated in Area 49 next to Bingu National Stadium.”
While other affiliates are satisfied with the way the revenue was used, National Referees Association of Malawi said they never got a fair share of the amount.
“As referees, I can say it that apart from the annual subvention, we never got any of the money.
“We know FAM got money specifically meant for referees through the Financial Assistance Programme. We know there were bonuses that Fifa gave FAM, but that never reached us.”
But FAM general secretary Suzgo Nyirenda said all the affiliates got their allocation from Fifa.
“None of the affiliates got the money directly. We just provide funds for all their programmes. In fact the referees got even more than what Fifa allocated them,” he said.
The financial statements indicate that the referees’ programmes consumed about K8 million in 2015. n
