The Football Association has come out in support of its decision to pay chief executive Mark Bullingham £1.32 million for the most recent financial year, highlighting that he “met and exceeded robust targets.”
Bullingham’s earnings, which cover the period ending July 2024, include a base salary of £869,000 and a bonus of £450,000 through a long-term incentive plan.
His total compensation has surged by over 55% compared to the previous year, making him the UK’s highest-earning CEO among sports governing bodies.
In a statement released alongside its latest financial report, the FA said that the pay was tied to Bullingham’s delivery on performance goals, both operationally and in relation to broader strategic ambitions.
“Mark has led the business to meet and exceed robust and ambitious performance targets on and off the pitch and deliver our 2020–2024 strategic objectives,” the FA said in its statement.
The organisation’s turnover reached £551.2 million for the year, marking a £69.4 million increase from the previous 12 months. Net profit stood at £49.7 million.
The FA noted the scale of its operations in comparison to publicly listed companies, stating that its turnover was “the equivalent to a FTSE 250 company,” and therefore, it must offer a “competitive” package to “attract and retain high-calibre executives.”
“In order to be competitive, the opportunity to earn a bonus and a long-term incentive plan are important – but payments are only made if performance targets are delivered or exceeded,” the FA added.
Bullingham’s pay packet eclipses that of his counterpart at the Rugby Football Union. In November, it was disclosed that RFU chief executive Bill Sweeney received £1.1 million – comprised of a £742,000 base salary and a £358,000 bonus – despite the union posting a nearly £40 million operating loss.
