The U.S. Soccer Federation is "projecting a deficit" of nearly $28M for FY '20, which is $16.8M "more than planned," according to Jeff Carlisle of ESPN.com. The numbers present a "grim financial picture for USSF, especially since they do not include the full impact of the coronavirus." Revenues for FY '20 were $129.2M, about $2.6M "below what was budgeted." The bigger impact was in "expenses," which came in at $157M, or $14.1M "more than what was budgeted." The USSF has "attempted to mitigate the financial impact of the coronavirus pandemic in recent months," in part by laying off or furloughing "up to 50 staff." The USSF also is "shuttering seven youth national teams for the rest of the year." Due to volatility in the financial markets, the USSF "brought in less investment income, though the current investment account balance" is $106M. Fundraising also came in "lower than expected due to 'timing delays,'" and the federation had "higher legal expenses" (ESPN.com, 6/13).
STAND OR KNEEL: The AP's Anne Peterson noted USSF President Cindy Parlow Cone "apologized" on Saturday for the federation's "lack of leadership in the fight against racism." The organization recently lifted its ban on players kneeling during national anthems, and Cone said, "We are committed to doing better to help fight racism and discrimination in all its forms. Repealing Policy 604-1 was just the first step." She added, "We will continue to engage with our players, our staff and soccer stakeholders to help us be a positive force for change going forward. And this is not about short-term initiatives. This is about writing these ideals into our DNA." In calling for a repeal of the policy earlier last week, the U.S. Soccer Athletes' Council "called on the federation to foster a 'positive relationship to exist going forward'" (AP, 6/13).
