Gwangju FC "Failure to comply with fiscal consolidation regulations..."Responsible General" Official Apology
Gwangju FC "Failure to comply with fiscal consolidation regulations..."Responsible General" Official Apology
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The Gwangju club said on its SNS on the 29th, "I feel deeply responsible for the failure to comply with the financial consolidation regulations, and I sincerely apologize to fans and related organizations who love soccer."
"We had a net loss of about 2.3 billion won (2.3 million U.S. dollars) last year," the club said. "The advance to the AFC Champions League Elite (ACLE) increased spending, including the expansion of the team's size and increased labor costs, but the corresponding income was not enough."스포츠토토
He added, "We failed to comply with the fiscal consolidation regulations even though income such as support for Gwangju Metropolitan City, entrance profits, product sales, and transfer fees increased by 6.4 billion won from about 15 billion won in 2023 to 21.4 billion won in 2024."
On the 27th, the Finance Committee of the Professional Football Federation reviewed the income and expenditures of 26 K League 1 and 226 clubs and expressed its opinion that measures such as referral to the reward and punishment committee are needed in Gwangju, which failed to achieve a break-even indicator.
After receiving the position of the finance committee, the federation's legal team is reportedly considering whether to refer Gwangju to the reward and punishment committee from various angles.
If the club is referred to the reward and punishment committee for failing to comply with the fiscal consolidation regulations, disciplinary measures such as fines, prohibition of recruiting players, and reduction of points may be imposed on the club. In the worst case scenario, even the second division relegation is possible.
Last year, Gwangju submitted a budget bill that overestimated its income to the Financial Services Commission, which was sanctioned by the Federation for "prohibiting the additional recruitment of players."
Gwangju said, "Since 2025, fiscal consolidation has been our top priority, and we are doing our best to prevent further debt by reducing unnecessary budgets and expanding our own income. I would like to say that we will repay our debts on an annual basis."