The Jamaica Football Federation (JFF) has reported a J$137 million surplus for the first quarter of 2025, a continuation of its financial turnaround under the leadership of President Michael Ricketts and General Secretary Dennis Chung. The announcement was made during a press conference earlier this week where the JFF’s top brass outlined the federation’s improved financial health and long-term vision.

According to Chung, this marks the third consecutive quarter of surplus, following a second straight year of positive returns in 2024. For the first time in over two decades, the JFF now boasts a positive equity position, meaning the organisation’s assets exceed its liabilities—a key indicator of financial solvency.

“This is a very significant achievement,” Chung said. “Our current ratio—excluding deferred revenue—moved from 0.37 in March 2024 to 0.89 this year. That means we’re much closer to full liquidity, where current assets fully cover current liabilities.”

The improved figures come on the back of structural reforms initiated by President Ricketts, who revealed that the JFF took the difficult step of overhauling its accounting department in order to implement more rigorous financial practices.

“It was a tough decision, but we had to make it if we truly wanted to craft a path of prudence,” Ricketts said. “It has paid off immensely. We now have a record that we can be proud of from a financial standpoint.”

Chung emphasised that the JFF's gains were not solely due to the federation’s lucrative partnership with Adidas, even though the apparel deal has played a role. “Yes, Adidas has been instrumental—and that came from the president’s initial negotiations—but the real story is improved governance. Our 2024 revenues were actually lower than 2023, yet our surplus was larger. That shows that our internal controls are working.”

Other highlights from the press conference included:

• A J$66 million write-off through the government’s tax amnesty programme, significantly reducing historic liabilities that once exceeded J$400 million.
• The removal of the longstanding ‘going concern’ qualification from the JFF’s audited financial statements.
• The acquisition of a Tax Compliance Certificate, positioning the JFF to better attract future investment.
• A shift to positive cash flow, compared to a net decrease in the same period last year.

The JFF has also begun generating revenue through its own media content, including YouTube streaming of games and features. Chung credited the Supporters Group, along with volunteers such as Tanya Lee Perkins, for helping expand the federation’s content reach.

For Chung, the milestone is more than numbers—it’s a signal of a broader cultural shift.

“Two to three years ago, we were not the most liked organisation around,” he said candidly. “But we had an objective, we stuck to it, and now we’re seeing the rewards. We’ve done this for Jamaica, and I hope people are proud of where we are today.”

Looking ahead, both Ricketts and Chung stressed the need to maintain discipline. “One of the things you must never do is spend future income,” Chung said. “The platform has been set for football development. Now it’s up to us to build on it wisely.”

With new sponsorship deals on the horizon and tighter fiscal management in place, the JFF says it is finally in a position to shift more of its focus toward growing the sport both on and off the field.