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GENEVA (AP) \u2014 The fall in the U.S. dollar value last year cost UEFA about $55 million.<\/p>\n
The dollar value dropped about 9% against a range of foreign currencies in the first months of 2025, which economists linked to investors\u2019 waning confidence in the U.S. under President Donald Trump, who returned to office last January.<\/p>\n
UEFA cited \u201ceconomic, market and geopolitical dynamics\u201d and a \u201csudden weakening of the U.S. dollar\u201d for driving the foreign exchange losses which accounted for the loss in its accounts for the 2024-25 soccer season.<\/p>\n
\u201cIn the past few years, UEFA benefited from a strong U.S. dollar leading to substantial gains on foreign exchange,\u201d the body said on Thursday in its 52-page annual financial report which did not name Trump.<\/p>\n
\u201cIn March 2025, however, the tides turned, and the U.S. dollar rapidly weakened by almost 9%, resulting in currency exchange losses of 47 million euros.\u201d That was equivalent to $54.5 million at the exchange rate on Thursday.<\/p>\n
That sum almost equated to the overall \u201cnet result\u201d in UEFA\u2019s latest annual accounts of minus-46.2 million euros ($53.6 million) which was financed from its reserves.<\/p>\n
Reserves at $600 million<\/p>\n
The dollar-driven losses cut UEFA\u2019s reserves to 521.8 million euros ($605 million) at the end of last June, just above the 500 million euros level it seeks to maintain to guarantee funding for its 55 member federations and organize national team competitions from senior to youth level.<\/p>\n
Though UEFA-organized club events like the Champions League earn billions each season, a big majority is paid as prize money and does not generate profits for the organization based in Nyon, Switzerland.<\/p>\n
The four-yearly men’s European Championship that earned about 2.5 billion euros for the 2024 edition in Germany fuels UEFA’s reserves and main funding program known as \u201cHatTrick\u201d that pays members double what they get annually from FIFA.<\/p>\n
\u2018Inevitable\u2019 dollar losses<\/p>\n
UEFA said in the financial report it \u201cneeds to hold a big U.S. dollar position to back outstanding hedge transactions,\u201d and so when the value started falling a year ago \u201csubstantial losses were inevitable.\u201d<\/p>\n
\u201cThe foreign exchange result had been consistently positive for several years, but this unfortunately changed in spring 2025 when the U.S. dollar suddenly weakened for various reasons, including economic, market and geopolitical dynamics,\u201d the UEFA document said.<\/p>\n
UEFA acknowledged a \u201cdisappointing\u201d outcome for its asset management last year compared to a \u201cvery exceptional 2023-24,\u201d which was the last full financial year during the previous U.S. administration.<\/p>\n<\/p><\/div>\n