'Where does the money go?' Canada Soccer gets a red card for its finances

Canada News News

'Where does the money go?' Canada Soccer gets a red card for its finances
Canada Latest News,Canada Headlines
  • 📰 CBCAlerts
  • ⏱ Reading Time:
  • 120 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 63%

Drone spying at the 2024 Paris Olympics put Canada Soccer under the microscope. Former players and board members says there's still lots to uncover.

Gold medal wins and big-ticket sponsorship haven't translated to revenues for Canada Soccer. Here's why.Drone spying at the 2024 Paris Olympics put Canada Soccer under the microscope. Former players and board members say there's still lots to uncover. Canada Soccer's Olympic espionage debacle has lifted the veil on years of turmoil inside the organization racked by internal and financial problems, and which has been criticized for a lack of transparency.

They raised numerous issues: lack of transparency, spending of public funds, financial opacity, a mysterious deal with a private firm, allegations of favouritism, widespread spying and a toxic environment.New Canada Soccer boss says organization's $4-million operating deficit 'not sustainable' Canada Soccer has never publicly revealed the details of this deal. Radio-Canada obtained documents outlining the agreement. TSN first reported on it in 2022.

The Canadian Soccer Players' Association, which represents the Canadian women's team, has filed a $40-million lawsuit against 15 current and former board members of Canada Soccer alleging the CSB deal constitutes "negligence and breach of fiduciary duty." "There were a few of us who were uncomfortable," he said. "We wanted more information. Several clauses were not in the best interests of Canada Soccer."

Once Housefather got hold of the CSB contract, he says alarm bells started ringing. For one, the Canada Soccer board of directors had not properly approved of the contract, which, to him, essentially renders it invalid. "People are protecting themselves" and "trying to cover up the truth," Lemire said. "There are truths that need to come out. The culture of sports in Canada, particularly soccer, is one of money and cover-up."

Last year, Canada Soccer also received nearly $4.8 million in government grants, much of which is dedicated to women's and youth programs through the Olympic program called "Own the Podium." "Where exactly does the money go? We don't know," said Claude Mathieu, expert in corporate financing and head of the financial crime program at Université de Sherbrooke. "It's very difficult to conclude based on the financial statements."

Mitchell said he wants soccer to be successful in Canada. "Soccer is a global sport with huge potential in our country. This was clearly the case when we started investing and it is still clearly the case today," he said in a statement. "He's on both sides of the coin," Mathieu said. "When taxpayers' money ends up in the hands of a company that delegates part of its activities to a private firm, it's a bit of our money that ends up in the pockets of that individual."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CBCAlerts /  🏆 37. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buttigieg Jokes About NJ Drone Sightings, Calls for Stronger Drone RegulationsButtigieg Jokes About NJ Drone Sightings, Calls for Stronger Drone RegulationsU.S. Transportation Secretary Pete Buttigieg commented on the recent reports of mysterious lights in the New Jersey sky, jokingly suggesting that an alien invasion would be unlikely to start there. Buttigieg also emphasized the need for stronger drone regulations, calling on Congress to provide additional authorities to address the growing drone situation.
Read more »

US Lawmakers Meet on Drone Sightings, Senate Blocks Drone LegislationUS Lawmakers Meet on Drone Sightings, Senate Blocks Drone LegislationUS lawmakers met with government officials for over two hours to discuss mysterious drone sightings over New Jersey and other states. While officials insist there's no imminent threat, the Senate rejected a bill to expand government authority to detect and destroy potentially dangerous drones.
Read more »

Canada Opens Skies for Longer-Distance Drone FlightsCanada Opens Skies for Longer-Distance Drone FlightsTransport Canada is easing regulations for longer-distance drone flights, particularly in less populated areas. This will pave the way for increased drone deliveries, aerial mapping, inspections, and other innovative applications.
Read more »

Lille's Jonathan David among nominees for Canada Soccer Player of the YearLille's Jonathan David among nominees for Canada Soccer Player of the YearJonathan David, the leading scorer in the French league this season, highlights the list of men's nominees for Canada Soccer Player of the Year.
Read more »

Lille's Jonathan David among nominees for Canada Soccer Player of the YearLille's Jonathan David among nominees for Canada Soccer Player of the YearJonathan David, the leading scorer in the French league this season, highlights the list of men's nominees for Canada Soccer Player of the Year.
Read more »

Lille's Jonathan David among nominees for Canada Soccer Player of the YearLille's Jonathan David among nominees for Canada Soccer Player of the YearJonathan David, the leading scorer in the French league this season, highlights the list of men's nominees for Canada Soccer Player of the Year.
Read more »



Render Time: 2025-02-19 18:45:00