PFJL targeting over $200m in revenue for 2022 JPL season
Published:Sunday | January 23, 2022 | 12:10 AMDaniel Wheeler - Staff Reporter
PROFESSIONAL FOOTBALL Jamaica Limited (PFJL) director Donovan White says that the organisation is committed to ensuring that all Premier League clubs will have the financial support they need as it targets generating over $200 million in revenue for the 2022 Jamaica Premier League (JPL) season.
White was speaking at Thursday’s press conference marking the start of this year’s competition already in progress. For the 2021 campaign, the PFJL was targeting $100 million in sponsorship to restart the league after more than a year’s absence.
White says that they are close to achieving their revenue objective for this year but are still cognisant of managing their expenses to remain financially viable.
“At the outset, we are aiming somewhere in the region of 220 to 250 million dollars in revenue. We are probably somewhere about 70% of that now. We are continuing that journey in working with our commercial partners to evolve that process. Whilst we do that, we are continuing to manage our cost, which is even more important in this instance as it relates to being profitable,” White said.
“So, at the end of the day, our shareholders who are the clubs can have a greater share of the rewards.”
White said that all prize monies from 2021 have been paid over to the respective clubs. Additionally, he said, the PFJL would be making adjustments to its business model, should the budget targets not be met this year. However, White was quick to point out that the organisation remained committed to the profit-sharing element of the model.
“If we meet the targets, then we still will manage our expenditure in a prudent way to ensure that we maximise our profits for our shareholders. Either way, we are working as a company to the benefit of our shareholders, which are the clubs, and we are going to continue to be prudent about that to ensure that we can get to and maintain our profitability going forward,” White said.
NET LOSS
White reported the PFJL operated at a net loss for the 2021 season, pointing to outstanding rental fees for the use of the UWI-JFF Captain Horace Burrell Centre of Excellence, the main venue for last season.
White said they are working with the Jamaica Football Federation (JFF) in settling their debts. In response, JFF president Michael Ricketts also committed to finding avenues to maintain a partnership with the league.
“We are partners and, whatever issues there are in terms of payments in relation to the centre, this is something that the JFF and the PFJL must sit down and work out. If the situation exists that you are unable to pay, then the JFF must find a way to absorb these costs,” Ricketts said.
“We want to work together. I am enjoying the relationship and I am enjoying the partnership. Let’s not even address it as you (PFJL) owing the JFF. We are partnering together and we will certainly find a way to work on these issues.”