The Jamaica Soccer Federation (JFF) has reported a $137 million surplus for the primary quarter of 2025, a continuation of its monetary turnaround below the management of president Michael Ricketts and basic secretary Dennis Chung.
The announcement was made throughout a press convention earlier this week the place the JFF’s high brass outlined the federation’s improved monetary well being and long-term imaginative and prescient.
In accordance with Chung, this marks the third consecutive quarter of surplus, following a second straight 12 months of optimistic returns in 2024. For the primary time in over 20 years, the JFF now boasts a optimistic fairness place, which means the organisation’s belongings exceed its liabilities—a key indicator of economic solvency.
“This can be a very important achievement,” Chung mentioned. “Our present ratio—excluding deferred income—moved from 0.37 in March 2024 to 0.89 this 12 months. Which means we’re a lot nearer to full liquidity, the place present belongings absolutely cowl present liabilities.”
The improved figures come on the again of structural reforms initiated by president Ricketts, who revealed that the JFF took the tough step of overhauling its accounting division to be able to implement extra rigorous monetary practices.
“It was a tricky resolution, however we needed to make it if we really needed to craft a path of prudence,” Ricketts mentioned. “It has paid off immensely. We now have a file that we may be pleased with from a monetary standpoint.”
Chung emphasised that the JFF’s positive aspects weren’t solely because of the federation’s profitable partnership with Adidas, although the attire deal has performed a job. “Sure, Adidas has been instrumental—and that got here from the president’s preliminary negotiations—however the actual story is improved governance. Our 2024 revenues have been really decrease than 2023, but our surplus was bigger. That reveals that our inside controls are working.”
Different highlights from the press convention included:
- A $66 million write-off by means of the federal government’s tax amnesty programme, considerably lowering historic liabilities that after exceeded $400 million.
- The elimination of the longstanding ‘going concern’ qualification from the JFF’s audited monetary statements.
- The acquisition of a Tax Compliance Certificates, positioning the JFF to raised entice future funding.
- A shift to optimistic money circulation, in comparison with a internet lower in the identical interval final 12 months.
The JFF has additionally begun producing income by means of its personal media content material, together with YouTube streaming of video games and options. Chung credited the Supporters Group, together with volunteers akin to Tanya Lee Perkins, for serving to broaden the federation’s content material attain.
For Chung, the milestone is greater than numbers—it’s a sign of a broader cultural shift.
“Two to 3 years in the past, we weren’t probably the most appreciated organisation round,” he mentioned candidly. “However we had an goal, we caught to it, and now we’re seeing the rewards. We’ve carried out this for Jamaica, and I hope individuals are pleased with the place we’re at this time.”
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