AIFF release Financial Statement for 2022-23, Indian Football suffers loss of 15 crore

The All India Football Federation (AIFF) recently published its financial statement for the fiscal year 2022-23, revealing a significant loss of ?15 crores (approximately 187 million US dollars) for Indian football. This disclosure was made public through a report published on Inside Sport India.

The financial statement highlighted various expenses incurred by the AIFF during the year under review. One of the notable expenditures was the allocation of ?92 lakhs (approximately 1.1 million US dollars) towards organizing a meeting of the apex body. This expense contributed to the overall financial deficit that the AIFF reported for the year.

The reasons behind the substantial loss are multifaceted and can be attributed to several factors. One significant factor was the impact of the COVID-19 pandemic on football activities in India. The pandemic led to the cancellation or postponement of numerous domestic and international matches, resulting in a significant reduction in revenue for the AIFF.

Another factor contributing to the financial loss was the hosting of the FIFA U-17 Women's World Cup in India during the same period. While the tournament brought international recognition and exposure to Indian football, it also resulted in significant expenses for the AIFF, including infrastructure development and logistical costs.

Despite the financial challenges, the AIFF remains committed to the development and growth of football in India. The organization has been taking steps to address the financial deficit and has initiated cost-cutting measures to reduce expenses and increase revenue. These measures include restructuring the organization's administrative setup and exploring new revenue streams through partnerships and sponsorships.

In conclusion, the financial statement released by the AIFF reveals a significant loss of ?15 crores (approximately 187 million US dollars) for the fiscal year 2022-23. The primary reasons behind this loss were the impact of the COVID-19 pandemic on football activities and the expenses incurred during the hosting of the FIFA U-17 Women's World Cup. The AIFF is taking steps to address the financial deficit and remains committed to the growth and development of football in India.