The recent success of the national football teams has helped bring more capital to the federation.
According to Le Hoai Anh, the secretariat of the Vietnam Football Federation (VFF), his organization collected VND240 billion (US$10.4 million) in total revenue in 2019, the most the organization has ever managed to make in a year, Tuoi Tre reports. Most of this money came from corporate donations.
The revenue earned is 1.45 times more than what they had planned to make this year, which was VND165 billion. Cao Van Chong, VFF’s deputy chairman, mentioned that the agency has managed to make a profit that accounted for 747% of what was previously targeted.
Chong added that in 2020, the plan is to make VND256 billion in total revenue. “Currently, the federation has many long-term sponsorship contracts that are eligible for three to five years. Our financial situation is very positive and stable,” he said.
Tuoi Tre reports that this year, the VFF scored two deals with two real estate giants, Hung Thinh Land and Vingroup, who promised to provide significant monetary support for football teams and Vietnam's football development in the years to come.
Specifically, in December this year, Hung Thinh Land signed a five-year contract with VFF to be the biggest sponsor of Vietnamese women’s football. As for Vingroup, the conglomerate signed a five-year contract with VFF back in October to offer support through PVF, a football fund and a football academy established by Vingroup in 2008.
[Photo via Vietnam Insider]
