DOCSLIB.ORG

Off Pitch: Football's Financial Integrity Weaknesses, and How to Strengthen

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Off Pitch: Football’s financial integrity weaknesses, and how to strengthen them Matt Andrews and Peter Harrington CID Working Paper No. 311 January 2016 Copyright 2016 Andrews, Matt; Harrington, Peter; and the President and Fellows oF Harvard College Working Papers Center for International Development at Harvard University Off Pitch: Football’s financial integrity weaknesses, and how to strengthen them Matt Andrews and Peter Harrington1 Abstract Men’s professional football is the biggest sport in the world, producing (by our estimate) US $33 billion a year. All is not well in the sector, however, with regular scandals raising questions about the role of money in the sport. The 2015 turmoil around FIFA is obviously the most well known example, creating a crisis in confidence in the sector. This study examines these questions, and the financial integrity weaknesses they reveal; it also offers ideas to strengthen the weaknesses. The study argues that football’s financial integrity weaknesses extend far beyond FIFA. These weaknesses have emerged largely because the sector is dominated by a small elite of clubs, players and owners centered in Europe’s top leagues. The thousands of clubs beyond this elite have very little resources, constituting a vast base of ‘have-nots’ in football’s financial pyramid. This pyramid developed in recent decades, fuelled by concentrated growth in new revenue sources (like sponsorships, and broadcasting). The growth has also led to increasingly complex transactions—in player transfers, club ownership and financing (and more)—and an expansion in opportunities for illicit practices like match-fixing, money laundering and human trafficking. We argue that football’s governing bodies – including FIFA – helped establish this pyramid. We explore the structural weaknesses of this pyramid by looking at five pillars of financial integrity (using data drawn from UEFA, FIFA, clubs, primary research, and interviews). In the first pillar of Financial Transparency and Literacy we find that a vast majority of the world’s clubs and governing bodies publish no financial data, leaving a vast dark space with no transparency. In the second pillar of Financial Sustainability we estimate that a majority of global clubs and governing bodies are at ‘medium to high risk’ of financial failure. We find, additionally, that European tax debts have grown despite Financial Fair Play, and confederations and FIFA contribute to a pattern of weak Fiscal Responsibility. We then create a new metric of Financial Concentration and find that the football sector is at ‘high risk’ of over-concentration, which poses existential questions for many clubs and even leagues. In the final pillar of Social Responsibility and Moral Reputation, we find that football’s governing bodies face a crisis of legitimacy stemming from a failure to tackle moral turpitude, set standards and regulate effectively. We suggest a set of reforms to re- structure FIFA in particular, separating its functions and stressing its regulatory role. 1 Associate Professor, Harvard Kennedy School, and Research Fellow, Harvard Center for International Development, respectively. This is Independent research commissioned by the International Centre for Sport Security (ICSS) EUROPE as part of the Financial Integrity and Transparency in Sports (FITS) Global Project. All views and contents are strictly those of the authors alone and should not be seen to reflect the views of the ICSS EUROPE or the ICSS or Harvard University. The authors' thanks go to Katie Simmonds, who provided management support for research processes. The authors are also grateful for the involvement of officials in a number of confederations, associations, clubs and league bodies who offered information and data used in this study, and comments on earlier drafts. 2 Contents Executive Summary ........................................................................................................................ 3 1. Why Study Financial Integrity in Football? ........................................................................... 11 This Study’s Structure, and the Discussion Flow ...................................................................... 14 A Final Note of Introduction ..................................................................................................... 22 2. Describing Football’s Financial Landscape ........................................................................... 24 Global Football’s Financial Size ................................................................................................ 24 Global Football’s Financial Shape ............................................................................................. 31 Global Football’s Financial Growth .......................................................................................... 41 3. Football’s Financial Integrity Problems ................................................................................ 56 Global Football’s Financial Integrity Questions ........................................................................ 56 Existing Work on Financial Integrity in Football ....................................................................... 60 A New Approach to Examining Financial Integrity in Football ................................................. 65 4. Financial Transparency and Literacy .................................................................................... 68 Assessing the Status Quo ......................................................................................................... 68 Addressing the Status Quo ....................................................................................................... 85 Nothing Here Will Be Easy to Do ............................................................................................ 100 5. Financial Sustainability ....................................................................................................... 104 Assessing the Status Quo ....................................................................................................... 104 Addressing the Status Quo ..................................................................................................... 124 6. Fiscal Responsibility ............................................................................................................ 135 Assessing the Status Quo ....................................................................................................... 135 Addressing the Status Quo ..................................................................................................... 144 7. Financial Concentration ..................................................................................................... 152 Assessing the Status Quo ....................................................................................................... 153 Addressing the Status Quo ..................................................................................................... 160 8. Social Responsibility and Moral Reputation ....................................................................... 167 Assessing the Status Quo ....................................................................................................... 167 Addressing the Status Quo ..................................................................................................... 196 9. Football’s Pending Conversations ...................................................................................... 218 References .................................................................................................................................. 224 3 Executive Summary Global sport has grown significantly in the last generation, especially in monetary terms: the sports sector now generates US $80 billion a year. Such new wealth raises questions about financial integrity in sport. This study reviews these concerns in respect of men’s football. The study begins by assessing the financial landscape of football across the world. Data are very limited, but our research estimates that football produces about US $33 billion a year – more than any other sport, and about 40% of global sports revenue. Most of this is raised in Europe, with football remaining much smaller elsewhere, at least financially. FIFA, UEFA and national associations contribute about US $3 billion in additional revenue each year. Financially, global football is pyramid-shaped. A small minority of leagues, clubs, players, governing bodies and officials make significant money (about a quarter of global club revenue is produced by the wealthiest 30 clubs in Europe) whereas the rest make very little. This belies a common tendency to look at Europe’s rich clubs and assume football is awash with money. This pyramid took shape in recent decades due to significant growth, first centered in Europe’s top leagues but now shifting to Eastern Europe, Asia, and the Middle East. This growth has exacerbated the gap between the ‘haves’ and ‘have nots’. It has been fuelled by new revenue sources—via corporate ownership, sponsorships, and broadcasting connections— and fosters an insatiable demand for talent at the top of the economic pyramid and links up and down the pyramid, making football more interconnected than ever. Entities at different places in the pyramid behave differently and face different challenges: ‘Win maximizing’ clubs at the top try to obtain the best talent and face high wage costs.
Recommended publications
  • FA SETS out ITS VISION for the FUTURE Football Is Looking to the FA to Do What Is Right for the Whole of the Game; to Nurture and Protect Its Future

    FA SETS out ITS VISION for the FUTURE Football Is Looking to the FA to Do What Is Right for the Whole of the Game; to Nurture and Protect Its Future

    ISSUE 22 FA NEWS FA SETS OUT ITS VISION FOR THE FUTURE football is looking to The FA to do what is right for the whole of the game; to nurture and protect its future. “There are some significant challenges but we are confident of tackling them.” FA OBJECTIVES • England’s senior men and women’s teams qualifying for major competitions and reaching the semi-finals at least, by 2012 The Football Association has published its • Successfully bid to host the 2018 FIFA World Cup™ Vision for the next four years, setting out a series of goals that The FA is committed to • National Football Centre operating by 2010 delivering by 2012. • 1 million 5-11 year olds trained through the FA Tesco Skills Major milestones are outlined covering all Programme by 2010 areas of The FA’s work from the performance of the England teams to increasing • 125,000 existing teams retained and 20,500 new teams participation in the grassroots of the game. created by 2012 FA Chairman Lord Triesman said: “Every supporter wants to know if The FA has a • 26,000 referees retained and an additional 8,000 referees serious, long-term plan for English football, recruited by 2012 addressing the biggest issues facing the game. • Respect campaign improves overall disciplinary “This document sets out our goals for the performance by 25% by 2012 next four years and how we intend to achieve them. The FA is prepared to speak and act for • Consistently increased distribution to the game by 2012 the greatest sport in the world.
  • UPC Platform Publisher Title Price Available 730865001347

    UPC Platform Publisher Title Price Available 730865001347

    UPC Platform Publisher Title Price Available 730865001347 PlayStation 3 Atlus 3D Dot Game Heroes PS3 $16.00 52 722674110402 PlayStation 3 Namco Bandai Ace Combat: Assault Horizon PS3 $21.00 2 Other 853490002678 PlayStation 3 Air Conflicts: Secret Wars PS3 $14.00 37 Publishers 014633098587 PlayStation 3 Electronic Arts Alice: Madness Returns PS3 $16.50 60 Aliens Colonial Marines 010086690682 PlayStation 3 Sega $47.50 100+ (Portuguese) PS3 Aliens Colonial Marines (Spanish) 010086690675 PlayStation 3 Sega $47.50 100+ PS3 Aliens Colonial Marines Collector's 010086690637 PlayStation 3 Sega $76.00 9 Edition PS3 010086690170 PlayStation 3 Sega Aliens Colonial Marines PS3 $50.00 92 010086690194 PlayStation 3 Sega Alpha Protocol PS3 $14.00 14 047875843479 PlayStation 3 Activision Amazing Spider-Man PS3 $39.00 100+ 010086690545 PlayStation 3 Sega Anarchy Reigns PS3 $24.00 100+ 722674110525 PlayStation 3 Namco Bandai Armored Core V PS3 $23.00 100+ 014633157147 PlayStation 3 Electronic Arts Army of Two: The 40th Day PS3 $16.00 61 008888345343 PlayStation 3 Ubisoft Assassin's Creed II PS3 $15.00 100+ Assassin's Creed III Limited Edition 008888397717 PlayStation 3 Ubisoft $116.00 4 PS3 008888347231 PlayStation 3 Ubisoft Assassin's Creed III PS3 $47.50 100+ 008888343394 PlayStation 3 Ubisoft Assassin's Creed PS3 $14.00 100+ 008888346258 PlayStation 3 Ubisoft Assassin's Creed: Brotherhood PS3 $16.00 100+ 008888356844 PlayStation 3 Ubisoft Assassin's Creed: Revelations PS3 $22.50 100+ 013388340446 PlayStation 3 Capcom Asura's Wrath PS3 $16.00 55 008888345435
  • FIFA Football

    FIFA Football

    FIFA Football A video game that functions as an ideal male bonding activity Eoin Kilbride _______________________________________________________ A research paper submitted to the University of Dublin, in partial fulfilment of the requirements for the degree of Master of Science Interactive Digital Media 2014 Declaration I declare that the work described in this research paper is, except where otherwise stated, entirely my own work and has not been submitted as an exercise for a degree at this or any other university. Signed: ________________________ Date: ________________________ Permission to lend and/or copy I agree that Trinity College Library may lend or copy this research paper upon request. Signed: ________________________ Date: ________________________ Acknowledgements I would like to express the deepest appreciation to my research supervisor Susan Gill. Without her constant support and advice this dissertation would not have been possible. Summary With the proliferation of home consoles in recent decades, video gaming has become an increasingly popular pastime, especially among boys and young men. The video game phenomenon has, therefore, ushered in a new vehicle through which males socialise. This research study discusses the playing of video games as a platform for social interaction among young male adults, with particular reference to the FIFA Football franchise. A massively popular game worldwide, it has initiated the emergence of a unique video game culture that includes drinking games and forfeits. This paper places FIFA Football in the wider context of traditional male pastimes in order to illustrate that the game embodies prevalent themes of traditional male bonding activities. Typically, male friendships are characterised by three predominant elements: shared activities, the glorification of traditional perceptions of masculinity and competition.
  • Abstract Sporting Mega-Events Generate Substantial Carbon

    Abstract Sporting Mega-Events Generate Substantial Carbon

    Abstract Sporting mega-events generate substantial carbon footprint where return transportation of event participants and visitors between the source and host countries makes the largest contribution. To enhance environmental sustainability of sporting mega-events, it is paramount to select a host country with the lowest carbon footprint from international transportation without compromising the magnitude of major visitor flows. The Facility Location Problem (FLP) model represents an established tool employed in the business environment to determine the best location for the installation of facilities to provide for existing or envisaged consumer demand. The model has proven its feasibility in a number of economic sectors, but rarely been applied in tourism, and never with sustainability management and planning purposes. This study contributes to knowledge by demonstrating the applicability of the FLP model when planning for sporting mega-events. The model enables selection of a host country with better climate credentials by quantifying the magnitude of international transportation of the event participants alongside the associated carbon footprint. Application of the FLP model to the FIFA World Cups shows that, to facilitate the progress of these mega-events towards sustainability, a decision on a host country should be made after the team qualification round, rather than before, as it currently stands. The model can then identify prospective hosts with the lowest carbon footprint from international transportation. Keywords: Facility
  • New UEFA National Team Coefficient Ranking System 20 May 2008

    New UEFA National Team Coefficient Ranking System 20 May 2008

    New UEFA National Team Coefficient Ranking System 20 May 2008 New UEFA National Team Coefficient Ranking System 1. Purpose of the UEFA national team coefficient The UEFA national team coefficient is an important tool for ensuring sporting balance and fairness in both the qualifying and final rounds of the UEFA European Football Championship. It is used in particular for the pot allocation for the qualifying draw and the final draw, and it is therefore crucial that the coefficient system reflects the real strength of each team as best as possible. 2. Current UEFA coefficient system The current UEFA coefficient system is generated according to the results achieved in the most recent qualifying competitions for the UEFA European Football Championship and the FIFA World Cup. The total number of points obtained in the qualifying competitions of both of the aforementioned competitions is divided by the number of matches played and the resulting coefficient is used for the rankings. In the case of an association that qualifies automatically for the final round of one of the competitions in question (as host association), the coefficient is calculated on the basis of its results in its most recent qualifying competition. The system has the advantage of offering a good comparison of the team strengths in the qualifying competitions. In addition, it is transparent and simple to calculate. However, the fact that matches played during final tournaments are not taken into account distorts the rankings significantly and does not reflect reality. 3. New proposed UEFA system 3.1. Cornerstones and principles 3.1.1. Matches taken into consideration All national A-team matches played in UEFA EURO and the FIFA World Cup qualifying competitions and final tournaments are taken into consideration.
  • Women's Football, Europe and Professionalization 1971-2011

    Women's Football, Europe and Professionalization 1971-2011

    Women’s Football, Europe and Professionalization 1971-2011 A Project Funded by the UEFA Research Grant Programme Jean Williams Senior Research Fellow International Centre for Sports History and Culture De Montfort University Contents: Women’s Football, Europe and Professionalization 1971- 2011 Contents Page i Abbreviations and Acronyms iii Introduction: Women’s Football and Europe 1 1.1 Post-war Europes 1 1.2 UEFA & European competitions 11 1.3 Conclusion 25 References 27 Chapter Two: Sources and Methods 36 2.1 Perceptions of a Global Game 36 2.2 Methods and Sources 43 References 47 Chapter Three: Micro, Meso, Macro Professionalism 50 3.1 Introduction 50 3.2 Micro Professionalism: Pioneering individuals 53 3.3 Meso Professionalism: Growing Internationalism 64 3.4 Macro Professionalism: Women's Champions League 70 3.5 Conclusion: From Germany 2011 to Canada 2015 81 References 86 i Conclusion 90 4.1 Conclusion 90 References 105 Recommendations 109 Appendix 1 Key Dates of European Union 112 Appendix 2 Key Dates for European football 116 Appendix 3 Summary A-Y by national association 122 Bibliography 158 ii Women’s Football, Europe and Professionalization 1971-2011 Abbreviations and Acronyms AFC Asian Football Confederation AIAW Association for Intercollegiate Athletics for Women ALFA Asian Ladies Football Association CAF Confédération Africaine de Football CFA People’s Republic of China Football Association China ’91 FIFA Women’s World Championship 1991 CONCACAF Confederation of North, Central American and Caribbean Association Football CONMEBOL
  • MLS As a Sports Product – the Prominence of the World's Game in the U.S

    MLS As a Sports Product – the Prominence of the World's Game in the U.S

    MLS as a Sports Product – the Prominence of the World’s Game in the U.S. Stephen A. Greyser Kenneth Cortsen Working Paper 21-111 MLS as a Sports Product – the Prominence of the World’s Game in the U.S. Stephen A. Greyser Harvard Business School Kenneth Cortsen University College of Northern Denmark (UCN) Working Paper 21-111 Copyright © 2021 by Stephen A. Greyser and Kenneth Cortsen. Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Funding for this research was provided in part by Harvard Business School. MLS as a Sports Product – the Prominence of the World’s Game in the U.S. April 8, 2021 Abstract The purpose of this Working Paper is to analyze how soccer at the professional level in the U.S., with Major League Soccer as a focal point, has developed over the span of a quarter of a century. It is worthwhile to examine the growth of MLS from its first game in 1996 to where the league currently stands as a business as it moves past its 25th anniversary. The 1994 World Cup (held in the U.S.) and the subsequent implementation of MLS as a U.S. professional league exerted a major positive influence on soccer participation and fandom in the U.S. Consequently, more importance was placed on soccer in the country’s culture. The research reported here explores the league’s evolution and development through the cohesion existing between its sporting and business development, as well as its performance.
  • African Football Labor Migrants in Egypt

    African Football Labor Migrants in Egypt

    School of Humanities and Social Sciences Molding and Moving Bodies in a Neoliberal World: African Football Labor Migrants in Egypt A Thesis Submitted to The Department of Sociology, Anthropology, Psychology, and Egyptology In Partial Fulfillment of the Requirements For the Degree of Master of Arts In Sociology – Anthropology By Andrea Groves Under the supervision of Dr. Joseph Hill September 2011 Abstract Egypt has a large profitable football industry that increasingly attracts the attention of both football agents wanting to earn income from another market and sub-Saharan football players hoping to further a career by using Egypt as an intermediary between their home countries and Europe. The labor migration of sub-Saharan football players to Egypt has been enabled mainly by neoliberal, market-orientated changes adopted by FIFA, the CAF, the European Union, and the Egyptian football industry itself. Yet more importantly it is the individual actors that implement and take advantage of these hegemonic spheres of influence. This thesis explores how these individual actors and sub-Saharan football players have negotiated the neoliberal project. Specifically it shows the changes brought by localized mutations of neoliberalism as well as its continuities how they affect the ways in which sub-Saharan football players in Egypt move, work, and live. ii Acknowledgments First of all, I would like to thank my thesis advisor Professor Joseph Hill for listening, teaching, and advising me through out this research. I would not have been able to complete this thesis without his guidance. I would also like to thank Professor Mark Westmoreland for his enthusiasm, belief in this subject, and his honesty.
  • Governance Relationships in Football Between Management and Labour Roitman - Governance Relationships Marston, C

    Governance Relationships in Football Between Management and Labour Roitman - Governance Relationships Marston, C

    Building on the two prior CIES governance studies, this is the third FIFA-mandated research analysing governance relationships in football. This book focuses on those Editions CIES between football’s employers (clubs, leagues and even NAs) and its labour force. Based on a sample of forty countries across all six confederations and questionnaires from players’ associations, leagues and national associations, this research surveys and compares the diverse ‘management-labour’ approaches and scenarios in both men and women’s professional football worldwide. GOVERNANCE RELATIONSHIPS The authors place a special focus on players’ associations and highlight the variety of IN FOOTBALL BETWEEN structures found world-wide. The findings here contribute to a better understanding MANAGEMENT AND LABOUR of the systems, models and relationships in place around the globe when it comes to PLAYERS, CLUBS, LEAGUES & NATIONAL ASSOCIATIONS ‘management’ and ‘labour’. This book explores the representation of Kevin Tallec Marston, Camille Boillat & Fernando Roitman players within decision-making structures at club, league and national association level as well as the regulatory contexts and negotiation instruments linking players and management - such as collaborative agreements/MoUs, CBAs, minimum contract requirements and dispute resolution. In addition, this study provides a first ever global exploration of some of the inner workings of players’ associations and an overview of the key issues in professional football from the player’s perspective. The final chapter offers several models and frameworks illustrating the governance relationships between players and management. All three authors work at the International Centre for Sport Studies (CIES). Kevin Tallec Marston earned his PhD in history and works as research fellow and academic projects manager.
  • FIFA World Cup™ Is fi Nally Here!

    FIFA World Cup™ Is fi Nally Here!

    June/July 2010 SPECIAL DOUBLE ISSUE | Team profi les | Star players | National hopes | South Africa’s long journey | Leaving a legacy | Broadcast innovations | From Montevideo to Johannesburg | Meet the referees | Team nicknames TIME FOR AFRICA The 2010 FIFA World Cup™ is fi nally here! EDITORIAL CELEBRATING HUMANITY Dear members of the FIFA family, Finally it has arrived. Not only is the four-year wait for the next FIFA World Cup™ almost over, but at last the world is getting ready to enjoy the fi rst such tournament to be played on African soil. Six years ago, when we took our most prestigious competition to Africa, there was plenty of joy and anticipation on the African continent. But almost inevitably, there was also doubt and scepticism from many parts of the world. Those of us who know Africa much better can share in the continent’s pride, now that South Africa is waiting with its famed warmth and hospitality for the imminent arrival of the world’s “South Africa is best teams and their supporters. I am convinced that the unique setting of this year’s tournament will make it one of the most waiting with its memorable FIFA World Cups. famed warmth and Of course we will also see thrilling and exciting football. But the fi rst-ever African World Cup will always be about more than just hospitality, and I am the game. In this bumper double issue of FIFA World, you will fi nd plenty of information on the competition itself, the major stars convinced that the and their dreams of lifting our famous trophy in Johannesburg’s unique setting of this spectacular Soccer City on 11 July.
  • 26Thps 2019.Pdf

    26Thps 2019.Pdf

    26thPS_2019.indd 1 3/11/2020 10:37:05 26thPS_2019.indd 2 3/11/2020 10:37:05 Olympic Studies 26th INTERNATIONAL SEMINAR ON OLYMPIC STUDIES FOR POSTGRADUATE STUDENTS 26thPS_2019.indd 3 3/11/2020 10:37:05 Published by the International Olympic Academy Athens, 2020 International Olympic Academy 52, Dimitrios Vikelas Avenue 152 33 Halandri – Athens GREECE Tel.: +30 210 6878809-13, +30 210 6878888 Fax: +30 210 6878840 E-mail: [email protected] Website: www.ioa.org.gr Editor: Konstantinos Georgiadis Editorial coordination: Roula Vathi Photographs: IOA Photographic Archives ISBN: 978-960-9454-53-7 ISSN: 2654-1343 26thPS_2019.indd 4 3/11/2020 10:37:05 INTERNATIONAL OLYMPIC ACADEMY Olympic Studies 26th INTERNATIONAL SEMINAR ON OLYMPIC STUDIES FOR POSTGRADUATE STUDENTS 8–30 MAY 2019 Editor KONSTANTINOS GEORGIADIS Professor, University of Peloponnese Honorary Dean of the IOA ANCIENT OLYMPIA 26thPS_2019.indd 5 3/11/2020 10:37:05 26thPS_2019.indd 6 3/11/2020 10:37:05 EPHORIA OF THE INTERNATIONAL OLYMPIC ACADEMY (2019) President Isidoros KOUVELOS (HOC Member) Vice-President Michael FYSENTZIDIS (HOC Member) Members Spyros CAPRALOS (HOC President – ex officio member) Emmanuel KOLYMPADIS (HOC Secretary General – ex officio member) Emmanuel KATSIADAKIS (HOC Member) Georgios KARABETSOS (HOC Member) Athanasios KANELLOPOULOS (HOC Member) Efthimios KOTZAS (Mayor, Ancient Olympia) Gordon TANG Honorary President Jacques ROGGE (IOC Honorary President) Honorary Dean Konstantinos GEORGIADIS (Professor, University of Peloponnese) Honorary Members Pere MIRÓ (IOC Deputy Director General for Relations with the Olympic Movement) Makis MATSAS 7 26thPS_2019.indd 7 3/11/2020 10:37:05 IOC COMMISSION FOR OLYMPIC EDUCATION (2019) Chair Mikaela COJUANGCO JAWORSKI Members Beatrice ALLEN Nita AMBANI Seung-min RYU Paul K.
  • Annual Report 2020

    Annual Report 2020

    ANNUAL REPORT 2020 WWW.BARBADOSFA.COM BFA ANNUAL REPORT 2020 / 1 COVER IMAGE IS THE WEST COAST YOUTH ACADEMY CELEBRATING IN THE 2019 GUARDIAN GROUP YOUTH FOOTBALL COMPETITION FINALS 2 / BFA ANNUAL REPORT 2020 BARBADOS FOOTBALL ASSOCIATION 2020 ANNUAL REPORT CONTENTS NOTICE OF THE ANNUAL GENERAL MEETING 2 VISION 2020 MEMBERSHIP 4 PRESIDENT’S ADDRESS 5 BETTER FOOTBALL FOR A BETTER LIFE MINUTES OF THE 118 ANNUAL GENERAL MEETING 6 COMMITTEE MEMBERS 2019 7 2019 IN REVIEW 8 JANUARY 10 FEBRUARY 12 MARCH 14 MISSION APRIL 16 MAY 18 JUNE 20 To enable people to JULY 22 enjoy the beautiful game and AUGUST 24 excel in all areas of football SEPTEMBER 26 through programmes and well OCTOBER 30 organized competitions. NOVEMBER 32 DECEMBER 34 EXECUTIVE BOARD 40 BFA SECRETARIAT 41 FINANCIAL STATEMENTS 42 VALUES INDEX TO THE FINANCIAL STATEMENTS 42 AUDITORS REPORT 43 STATEMENT OF FINANCIAL POSITION 45 EQUALITY, ACCOUNTABILITY, STATEMENT OF CHANGES IN EQUITY 46 PASSION, INTEGRITY, STATEMENT OF INCOME AND EXPENDITURE 47 EXCELLENCE, STATEMENT OF CASH FLOW 48 GOOD GOVERNANCE, STATEMENT OF FOOTBALL ADMINISTRATION, NATIONAL TRUST, TEAMWORK, AND INTERNATIONAL EXPENDITURE 49 SERVICE, COMMITMENT, STATEMENT OF GENERAL ADMINISTRATION EXPENDITURE 50 TRANSPARENCY, NOTES TO THE FINANCIAL STATEMENTS 51 FAIR PLAY BFA ANNUAL REPORT 2020 / 1 NOTICE OF THE ANNUAL GENERAL MEETING TO: Honorary Members Members of the Executive Council Member Clubs Associate Members Affiliate Members FROM: Edwyn Wood, General Secretary DATE: February 14th, 2020 SUBJECT: Annual General Meeting 2020 Notice is hereby given of the Annual General Meeting of the Barbados Football Association (BFA) on Sunday March 22, 2020 at 4:00 pm in the “Poinsettia” Lloyd Erskine Sandiford Centre, Two Mile Hill, St.