Sept. 23 (Bloomberg) -- The Football Association, English soccer’s governing body, said 2012 profit fell 13 percent after it earned less from events at Wembley Stadium.
Net income fell to 35 million pounds ($56 million) from 40 million pounds in 2011, the London-based F.A. said in a report released today. Sales fell to 318 million pounds from 329 million pounds.
The decline would have been greater without prize money earned from the performance of the men’s national team in the 2012 European Championship. England won its group in the opening stage of the tournament before losing a penalty shootout against Italy in the quarterfinals.
The F.A. is “well placed to continue to deliver significant investment into the game,” Chief Financial Officer Andrew Crean said at a briefing in London.
Income from selling broadcast rights was unchanged, as were sponsorship and licensing sales. The current domestic television rights contract expires in 2014, and the deal for international broadcast rights runs out in 2018.
Sales generated by soccer and other events declined to 40 million pounds from 62 million pounds because Wembley hosted fewer events than the previous year. One of those 2011 events was the UEFA Champions League final, which returned to Wembley this year. Only one music concert was held at the stadium in 2012, compared with nine in 2011. The decline in event sales was partly offset by the staging of nine Olympic soccer games.
Revenue from events at Wembley should return to the 2011 level or higher this year, Roger Maslin, managing director of the stadium, said in an interview.
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