Yanga incur Sh1.1 billion loss for 2023/2024 Mainland League Season
Yanga President Eng. Hersi Saidi speaks during the team's Annual General Meeting (AGM) held today, June 9, 2024, at the Julius Nyerere International Convention Centre (JNICC). PHOTO | COURTESY
What you need to know:
- Yanga earned a total of Sh21.2 billion from various income sources but spent Sh22.3 billion to cover various costs throughout the season.
Dar es Salaam. Mainland Tanzania Premier League champions, Young Africans (Yanga), have incurred a significant loss of Sh1.1 billion for the recently concluded 2023/2024 Mainland Premier League season.
According to the financial report released today, June 9, 2024, during the Annual General Meeting (AGM) at the Julius Nyerere International Convention Centre (JNICC), Yanga earned a total of Sh21.2 billion from various income sources but spent Sh22.3 billion to cover various costs throughout the season.
The financial report detailed the club’s earnings, revealing that Yanga garnered Sh10.2 billion from sponsorship and broadcasting rights.
Gate earnings from various matches contributed Sh1.5 billion, and the club collected Sh613.3 million from membership fees.
Additionally, Yanga secured Sh3.5 billion from prize money and accumulated Sh5.5 billion from other diverse sources of income.
On the expenditure side, the report indicated substantial spending across several categories. Yanga allocated Sh7.4 billion to player salaries, stressing the club's commitment to retaining top talent and maintaining competitive team performance.
Furthermore, Sh3.5 billion was spent on player registration and transfers, highlighting the club's investment in strengthening its squad.
Some notable players who joined the club were Pacome Zouzoua, Guft Fred, Augustine Okrah, Yao Kouassi, and Joseph Guede.
The Jangwani Street giants also incurred significant costs for logistical needs, spending Sh2.9 billion on transport, food, and accommodation for players and staff.
Match preparations alone demanded Sh1.8 billion, ensuring the team was adequately equipped and ready for each game.
Bonuses for players and the technical bench amounted to Sh2.6 billion, serving as incentives for performance and achievements throughout the season.
Residential camps for players, officials, and the technical bench cost Sh702.4 million, while compliance expenses totaled Sh944.7 million, reflecting the club's adherence to regulatory and administrative requirements.
Administrative expenses were another notable outlay, with the club spending Sh1.4 billion on various operational costs.
Marketing and financial expenses were also significant, with the club allocating Sh424.8 million to marketing efforts and Sh503.8 million to financial costs, including loan interests and banking services.
The financial report stresses the club's extensive efforts to improve its infrastructure, support player welfare, and maintain high operational standards despite the financial loss.
The transparency of this report is expected to bolster support from members and stakeholders, enabling Yanga SC to strive for greater success in the upcoming seasons.
