FAW posts loss for 2025 despite record revenue

"The net loss after tax of £3.4m was a result of healthy returns from investments, together with deferred tax movements relating to the transfer of the investment portfolio."

John Young, the FAW's chief finance and operations officer, said: "The organisation recognises that operational losses are not viable over the long term but believes that, given the strength of our balance sheet, continued investment is justified to strengthen our domestic league, provide our national teams with the best possible opportunity for tournament qualification and success, and to support the growth of the grassroots game."

Wales will co-host Euro 2028 alongside England, Scotland and the Republic of Ireland, which will boost future accounts.

However, the next financial results will be impacted by the men's team failing to qualify for this summer's World Cup.

"If you look back at qualification for Qatar in 2022, back then we had no finances or plan for grassroots facilities, and we used the platform of qualifying for the World Cup," FAW chief executive Noel Mooney told BBC Sport Wales.

"We put £4m to create the Cymru Football Foundation [the FAW's charitable arm] and since then we've distributed about £30m. So that was a real catalyst for grassroots facilities.

"This World Cup would have helped us to accelerate even faster that development. But at the same time, we've got to be agile.

"Yes, it would have been lovely to go to the World Cup from a financial perspective, again, to accelerate the growth of the game in Wales.

"But ultimately, we've got the Euro 2028 here to come. And that will enable us to invest even further into the game at all levels."