After Matildas mania, FA boss James Johnson quits and $9m loss revealed

The Australian can reveal Football Australia posted a $9m loss following the shock resignation of boss James Johnson.

Fans cheer on the Matildas during the 2023 Women’s World Cup in Australia.

Football Australia boss James Johnson has sensationally resigned, following several key staffers out the door, as the organisation posted a $9m loss and the Matildas struggle to revive their world standing.

While Johnson has been lauded for his commercial success, helping secure a record broadcast deal and making the Matildas the most marketable and valuable sporting brand in the country, the most recent financial report shows excessive spending drove FA into the red.

With Johnson’s departure, former Matilda and FA director Heather Garriock has taken up the interim CEO role and addressed staff on Thursday. FA are expected to launch a global search for a new chief executive.

The Australian can reveal FA recorded a $9m financial loss for its most recent financial year as a blowout in costs and spending offset what was record revenue for the governing body.

A note in the latest FA annual financial report claimed 2024 was a year that “served as an investment and reset phase”.

It said revenues “enabled investments in line with long-term objectives of building momentum, capability and fan engagement, with spending on national teams, a mooted national second division and broadcast strategy requiring “substantial upfront investment”.

FA’s financial report, recently lodged with the corporate regulator but not yet revealed publicly by the organisation, shows it making a $8.5m loss in the 12 months to December 31, 2024, from $123m revenue.

James Johnson’s resignation is expected to trigger a global search for a new Football Australia chief executive. (Photo by Saeed KHAN / AFP)

While the period featured several lucrative Matildas home matches played in front of huge crowds, it also included the ill-fated and costly Matildas Olympic campaign in which the star-studded squad was knocked out early in the competition amid acrimony inside the team about now-former coach Tony Gustavsson.

Critics took aim at the Matildas staffing levels and the charter plane used to shift training gear from a camp in Spain to France for the Olympics, a staff of more than 20 to look after the team – including a chef – and other perks.

In particular, the jet that flew the Matildas from a pre-Games training camp in Marbella, Spain, to Marseilles, drew ire of some commentators – though it is understood the only other way to get between the two points was a budget Ryanair flight and the plane FA hired was a small, ageing private plane.

“We need to invest in this team,” Johnson told The Australian after the Olympics when questioned about FA’s Matildas expenditure.

“We need to build the program if we want to continue to compete with the likes of the US program or the Japanese.”

FA outlaid almost $50m in employee and team benefit expenses, including wages and bonuses for staff and the national teams, and also spent about $21m on travel expenses.

The accounts also reveal FA owes world governing body FIFA about $5.5m in loans, while FA’s key management personnel were paid a combined $3.4m for the year.

FA changed its financial year reporting methodology last year, going from reporting the standard financial year to June 30 to a full calendar year.

Its last full-year accounts for the 12 months to June 30, 2023, showed a small $669,000 net profit from about $113m revenue.

The Matildas’ popularity is clear to see as Mary Fowler signs autographs for young fans after beating the Korea Republic in an international friendly in Newcastle in April.

The six months to December 31, 2023, the time period covering the lauded Women’s World Cup in Australia and New Zealand during which the Matildas captured the heart of the nation during a run to the semi-finals, resulted in a $242,000 loss from $63m revenue.

FA sold $9.3m worth of merchandise in that six months alone – likely as a result of the booming popularity of the Matildas – compared with $11.4m in sales for the full 2024 year.

The governing body still has almost $13m in net assets and about $18m cash in the bank.

In a FA statement on Thursday, Johnson said he considered it a privilege to lead the organisation.

“As someone who is immensely passionate about Australian football, this decision has not come easy, but I believe the time is right to step down,” he said. “I want to extend my thank you to the Football Australia board and everyone within the Australian football community for their support during my tenure.

“Football is a local and global sport so no matter where I am, I will always be here to support Football Australia and Australian football.”

FA chair Anter Isaac thanked Johnson for his leadership.

“James has guided Football Australia through extraordinary challenges and leaves a great legacy,” he said. “We wish him every success for the future.”

Johnson held the role for 5½ years and has been linked to a position at FIFA.

Several other FA staffers will soon finish up, including general manager of media and communications Rebecca Trbojevich and Matildas media manager Ann Odong.

In the coming weeks, FA are expected to announce a senior coach for the Matildas, with Lyon women’s coach Joe Montemurro all but certain to take the top job.