Soccer: Healthy surplus for NZ Football

NZ Football chairman Frank van Hattum

Soccer's governing body in New Zealand reflected the sport's recent on-field success when it announced a $1.35 million surplus in Auckland today.

It was a second successive surplus for New Zealand Football (NZF) after four previous years of deficits, and was an increase of almost $1 million from its 2008 accounts.

A record crowd in Wellington for the World Cup playoff victory over Bahrain, a favourable exchange rate when converting prizemoney from the 2009 Fifa Confederations Cup and a strong focus on organisational efficiency all contributed to the financial result, NZF said in a statement.

NZF chairman Frank van Hattum said soccer had worked extremely hard over the last two years to reverse its financial position and set a new strategic direction, via the seven federations across the country.

But the drive towards sustainability was just beginning, van Hattum said.

"We have steered our way out of the dire financial problems of two years ago and built the foundation of a great football future and now we need to work together to achieve our objectives fully," he said.

Van Hattum's address to the NZF congress impressed the need to work to the sport's strategic plan while ensuring a legacy is in place from the All Whites' qualification for the World Cup in June.

"A top performing organisation will be judged on what it does in both bad and good times. Now we need to ensure that we grow and flourish."

The surplus also saw NZF confirm a number of other financial wins.

Repayments on a $1.5 million loan were ahead of schedule while the organisation had erased its working capital deficit and the balance sheet was once again in the black.

NZF chief executive Michael Glading said a key theme for the next 12 months was investment.

"We don't enjoy the reserves that other sporting bodies have and it is prudent that we start to save to protect us and our stakeholders in hard times and generate other income streams to fund the good times," Glading said.

"We will continue to invest in players, coaches and the game in general."

Glading said this season NZF was training 1500 new junior coaches through its Small Whites campaign.

The congress also saw Andrew Titter re-appointed to NZF's seven-member board while Dougal McGowan was elected to replace the out-going Mark Stewart.

- NZPA