The decline in the value of the U.S. dollar last year resulted in UEFA losing around $55 million.
The dollar decreased by approximately 9% against various foreign currencies during the early months of 2025, a trend economists connected to a decline in investor confidence in the U.S. under President Donald Trump, who resumed his presidency last January.
UEFA pointed to «economic, market, and geopolitical factors» and a «sudden depreciation of the U.S. dollar» as causes of the foreign exchange losses that contributed to the losses in its accounts for the 2024-25 football season.
«In recent years, UEFA profited from a robust U.S. dollar, leading to significant foreign exchange gains,» the organization stated on Thursday in its 52-page annual financial report, which did not mention Trump by name.
«In March 2025, however, conditions reversed, and the U.S. dollar swiftly devalued by nearly 9%, leading to currency exchange losses of €47 million.»
This was valued at $54.5m based on Thursday’s exchange rate.
This amount nearly matched UEFA’s overall «net result» in its latest annual accounts of minus-€46.2m ($53.6m), which was covered by its reserves.
The dollar-induced losses reduced UEFA’s reserves to €521.8m ($605m) as of the end of last June, slightly above the €500m threshold it aims to maintain to ensure funding for its 55 member federations and host national team tournaments from senior to youth levels.
Although UEFA-organized club competitions like the Champions League generate billions each season, a substantial portion is disbursed as prize money and does not yield profits for the organization headquartered in Nyon, Switzerland.
The quadrennial men’s European Championship, which generated about €2.5 billion for the 2024 edition in Germany, bolsters UEFA’s reserves and the primary funding initiative referred to as «HatTrick,» which provides members with double the annual support they receive from FIFA.
UEFA indicated in its financial report that it «must maintain a significant U.S. dollar position to support pending hedge transactions,» hence when the value began decreasing a year ago, «major losses were unavoidable.»
«The foreign exchange results had been consistently positive for multiple years, but this unfortunately shifted in spring 2025 when the U.S. dollar suddenly weakened for several reasons, including economic, market, and geopolitical factors,» the UEFA document noted.
UEFA admitted to a «disappointing» performance in its asset management last year in comparison to a «very exceptional 2023-24,» which was the last complete financial year under the previous U.S. administration.
