After winning the African UCL, Wydad received $2.5m in cash from CAF.
Wydad de Casablanca, (WAC), once again completed the exercise. The reigning African champion and holder the “Botola Pro D1inwi” award has unveiled his financial achievements in the 2021/2022 financial years. The first major information is the improvement in the financial accounts. Although the annual profit in the previous year was small, it increased significantly in the last season that ended June 2022. The net result for the current financial year was 10.2 million dirhams or approximately 1,000,000 euros. This compares to 0.6million dirhams in 2020/2021 (6600,000. euros).
According to Rouge et Blanc club accounts this result breaks down to a profitable operating result at 19.3 million dirhams (1.9million euro), which allows it to support an exceptional result of -8.6million dirhams, or -800,000.
FIFA and CAF bring you fresh air…
According to the report, two grants will be made to bail out the accounts. Wydad is the reigning African champion and has received approximately 2.5 million dollars in grants from CAF. An envelope of 1,000,000 euros from FIFA will be used to consolidate his funds for the Club World Cup.
“It is quite obvious that account should be taken of these flows mainly financed by the CIFThe FifaThrough their generating event, the victory in the final African Champions League season 2021/2022. This is an event that is oh so crucial and of which all components of the club are trying not to make it “exceptional”.Comments to the club
Even though the expenses are still very high (see table 2), the club’s income increased by 11% over the previous season. They range from 100 to 111 millions dirhams (11,000,000 euros editor’s notes). This is mainly due to subsidies from CAF that the Club received for their participation in the African Champions League 2021/2022 season.
… but sanctions and litigation weigh on Wydad
However, the financial situation was shaken by a new fact. The cash flow has been impacted by the Court of Arbitration for Sport’s (CAS) sanctions and the delays caused by the club in recruiting players and firing coaches. The transfer of former captain Walid Al Karti to Egyptian side Pyramids FC has partially helped to alleviate the situation. The player was sold for 1,000,000 dollars. This is a substantial amount for a Moroccan team. Other disputes are still pending, and could have a negative impact on finances if they lose the appeal (see tableau 2).
Both the public return and sponsorship are positive
Wydad found the public again during the last season. This was after the difficult period following the Covid-19 pandemic. This partial return of supporters had an impact on ticket sales, which reached 9,000,000 dirhams (900,000.00 euro). Sponsorship products also saw a significant increase (+164%). “This variation can be explained by the positive effects that participation in the CAF Champions League and the renegotiation a new contract with the official sponsor Club “INGELEC” explain. The Wydad explains. Similar to the previous financial year (+64%), TV rights, subsidies, and donations received were close to 4.8 million euros.
mohamed hadji
Source: sportnewsafrica
