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Canada Soccer says it is expecting a $2.4 million deficit this year, down from $4 million in 2024.
The governing body says it expects 2025 to be the final year of operating losses, with a surplus expected in 2026 and “for the foreseeable future.”
Canada Soccer made the announcement Tuesday, which marks 500 days to the 2026 World Cup kicking off in Canada.
The organization says it continues to pursue different ways to generate revenue, including philanthropy — which it says has become a key source of budget revenue.
Under CEO Kevin Blue, Canada Soccer got help from the private sector in getting the funds to hire both men’s coach Jesse Marsch and women’s coach Casey Stoney.
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Stoney, hired last month, is the first beneficiary of a new fund established specifically to support women in elite coaching.
Canada Soccer says it also remains “actively engaged in improving our commercial business and the associated rights agreements.”
In 2023, the last figures currently available, Canada Soccer reported revenue of $34.5 million and expenses of $37.2 million, a shortfall of $2.68 million.
The 2024 budget figures are due to be revealed in May at Canada’s Soccer annual general meeting.