This article will examine business companies that operate as football clubs, while are, simultaneously owned, fully or partially, by the Municipalities. For each of the companies we will also see their annual turnover, as well as the profit before tax. What we observe is that, the local football clubs companies, carry consistently financial losses and generally, are kept active through financing and subsidies from the budgets of respective Municipalities.
We will start with the Tirana Football Club, a company whose 34% of the shares are owned by the Municipality of Tirana and the remaining of the shares are owned by the company Halili shpk. Referring to the financial statements, the company reflects losses on the balance sheet in 2021. The company has not published in the National Business Center its financial statements of 2017 and 2019. The losses of last year are as much as 53.2% of the annual turnover. The company’s administrator is Mr.Refik Halili.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Bulqiza Sports Club, owned by the municipality, continues to be an active company, while at a loss as well, with the municipality covering up by authorizing Treasury transactions in her favour every month.
Tomori Sports Club is owned by the municipality of Berat. The Financial Performance of the Tomorri Football Club Company from 2015 to 2021 reflects less annual losses. The company is supported and collects funds consistently through treasury transactions,at the request of the Municipality.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Cërrik Municipality owns minor shares of the Turbina Football Club, while the majority of the shares are owned by an undisclosed individual. This Company’s loses are also covered by municipal funds, through treasury transactions.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Delvinë Municipality owns Delvina Football Club, on behalf of which authorizes payments via the State Treasury.
Elbasani Football Academy was established in 2021 by the municipality. Until now, we have no information regarding its financial management, but in the meantime, the Municipality systematically subsidizes the company’s expenses via Treasury transactions.
Another company in financial loss is the Apollonia Football Club, partially owned by Fier Municipality, with 33.8% of the shares, and Mr. Koco Kokëdhima for the majority of the shares. The municipality continues to finance capital growth, through Treasury transactions, even though it is a minority in ownership.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Luftëtari Football Club partially owned by the Municipality of Gjirokastër has suspended its activities years ago now.
Sports Club Himara’s, whose largest shareholder is Mr. Florenc Gjikuria, is also partially owned by Himarë Municipality. Just like the vast majority of local sports businesses, this company marks annual losses as well.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Football Club Kamza emerges to be a company with suspended economic activity. The municipality owns 49% of its capital.
The municipality of Kavaje owns 37% of the shares of Besa Football Club, whereas the Municipality of Klos has founded the Klosi Football Club company in 2021.
Skënderbeu Football Club is owned, via 25% of its shares, by the Municipality, however, this company’s financial documents, which should be published in the National Business Center, are missing.
Equally, Krujë Municipality owns 25% of Kastrioti Football Club as well and through the Decisions of the Municipal Council,
payments are regularly transferred to the company, via the State Treasury, from the Municipality.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Naftëtari Football Club is owned fully by the Municipality of Kuçovë. Likewise, this company has registered loses, even though the Municipality continues to support it.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Sopoti Football Club is owned by the Municipality of Librazhd and its financial performance is weak as well and has resulted in loses.
Lushnja 1930 Football Club has had less financial loss over the years. This company is fully owned by the Municipality and is financially subsidized through State Treasury payments.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Maliqi’s Football Club is partially owned by the Municipality.
Meanwhile, Bylis it is partly owned, with only 25% of the capital, by the municipality of Mallakastër. Currently, the company’s status is suspended.
Burreli Football Club finds itself in the same dire situation. This club is fully owned by the Municipality.
Sports clubs that are also 100% owned by the respective municipalities are Shkumbini; Pogradeci; Terbuni, Vora and Valbona who is under the ownership of the Municipality of Tropoja. Butrinti on the other hand is a suspended company.
Egnatia Football Club has 3 shareholders, where the municipality of Rrogozhin owns only 25% of the capital.
The football company Flamurtari, which is fully owned by the municipality of Vlorë, is also experiencing repeated losses. The administrator of this company is Mr. Sinan Idrizi, the company’s passaport is part of the Open Corporates Albania database.
Source: Open Corporates
Comments and Analyses: Open Data Albania
The Municipality of Vlora owns Oriku as well, holding 100% of its shares and supporting it financially through treasury payments.
Source: Open Corporates
Comments and Analyses: Open Data Albania
Football Club Vllaznia has already left the list of companies fully or partially owned by Municipalities. Shkodër municipality carried out the privatization and sale of its shares. The sale was made with a notarial contract signed on September 7, 2021 and by the decision of the shareholders’ assembly of the two companies buying the shares dated February 2022. The value of the sal,e based to the Code of Civil Procedure is 63,750,000 Lek, which the buyer pays to the Municipality of Shkodër within 90 days from the signing of the Contract. The owners of Vllaznia sha Football Club are Alba Sport & Entertainment shpk for 10% of the shares and AlbaPhoto shpk for 90% of the shares.
A more detailed information on business companies that are fully or partially owned by the Municipality or Central Government Institutions is published in Open Corporates Albania’s section Publicly Owned Enterprises.
Download excel: If you want to access the excel or dataset that accompanies this article, please write to us at [email protected]Comments and Analyses: Open Data Albania
Contributed by: Ana Baja
Translated by: Rezarta Cushaj
