Football Australia's losses almost doubled to a record $15.34 million last year, prompting plans to axe 20 per cent of staffers at soccer's governing body.
The unprecedented loss followed a then-record loss of $8.5 million in 2024.
In its financial report for the year that ended on December 31, FA detailed its losses despite revenue climbing to an all-time high.
"Revenues grew to $139,446,000, representing the strongest result since the separation of the A-League and continued commercial momentum and audience engagement across the game," FA's financial report states.
But FA still reported a massive loss, equivalent to 11 per cent of revenue.
"The net loss ... after tax for the year ended 31 December 2025 was $15,340,000," the financial report states.
FA wages and salaries last year totalled $53.25 million, almost $11 million more than in 2024.
The overall amount of all "employee and team benefit expenses'' reached $63.13 million, up from $49.82 million in 2024.
The financial report, seen by AAP and to be tabled at FA's annual general meeting next Thursday, also details payments to former FA director Jaclyn Lee-Joe.
Lee-Joe, who joined the organisation's board in November 2022 and resigned in May last year, will be paid $810,000 by FA "for services rendered in relation to the PlayFootball registration system", the report states.
Lee-Joe was paid $180,000 last year, with the remaining amounts to be paid over this year and 2027.
On Tuesday, FA's chief executive Martin Kugeler detailed the need for the body to cut one in five of its staffers in response to the heavy financial loss.
Kugeler, who was appointed chief executive in January, said the cuts wouldn't impact the flagship men's and women's senior national teams.
But Kugeler said FA planned a "significant reset and restructure".
"Two significant losses, and increasing losses year-on-year, is obviously not a situation that is sustainable or acceptable," Kugeler told reporters on Tuesday.
"An organisational restructure that resizes ... is to set up the organisation to deliver financial resilience.
"... What that means is I had to make obviously very difficult decisions around roles and make a significant number of roles redundant, so we will ultimately reduce the people here working at Football Australia."
He said the restructure would mean "a net reduction of over 20 per cent" of staff.
"We are where we are: great on the football side, delivering success, qualifying for the World Cup," Kugeler said.
"We're not where we need to be on the financial side, and that's what we have to address."
