On January 9, the second meeting of the 11th General Assembly of CFA, a major event in China's soccer sector, was grandly opened in Chengdu, the city of Hibiscus. The meeting focused on the deliberation and adoption of the association's annual work report, detailed report on the financial situation, and the report on the change of members of the executive committee. In the annual financial report of the CFA for 2019 and 2020 detailed by Deputy Secretary General He Xiaofeng, it was revealed that over the past two years, the CFA has accumulated a net loss of up to RMB 50 million.
The report pointed out that the association's total income in 2019 will be 820 million yuan, while the total expenditure will be 860 million yuan; in 2020, the total income will be 460 million yuan, while the total expenditure will be 470 million yuan. In the report, He emphasized that the association will focus on deepening business expansion, strict budgetary control, streamlining resource allocation as well as strengthening internal control in 2022 to ensure the association's long-term healthy development.
CFA has been losing money for many years in a row, and the crux of the problem lies in the bad debt of the league rights and the investment of funds for epidemic prevention. Industry analysis suggests that due to the financial difficulties faced by copyright holders, the league copyright fees for the 2019 season are in arrears, and the related litigation is still ongoing.In the 2020 season, the league has changed to a tournament system due to the impact of the epidemic, and the expenditure on epidemic prevention is huge.
In contrast, in 2017, the CFA had revenues of $760 million and costs of $590 million for a single-season profit of $170 million. in 2018, the association had revenues of $840 million and costs of $810 million for a cumulative two-year net profit of $200 million.
