I sincerely apologize. Gwangju, which has no wind, apologizes again in 8 days due to fiscal consolidation issues...I'm not sure if it's a reward or punishment

May 29, 2025

Gwangju FC Instagram

photo courtesy of the Korea Professional Football Association

Gwangju FC, which was caught in the crossfire due to the controversy over non-payment of solidarity contributions, bowed its head again in nearly a week. This time, it is about non-compliance with fiscal consolidation.

Gwangju posted an apology on the club's official Instagram on the 29th, saying it felt responsible for failing to comply with the Korean Professional Football Federation's fiscal consolidation regulations. It has been eight days since Asani posted an apology on the 21st for the FIFA's ban on player registration for non-payment of solidarity contributions.

Gwangju said, "'I sincerely apologize to the fans who love soccer and the related organizations' The club failed to comply with the fiscal consolidation system (profit and loss index), which stipulates that expenditures do not exceed income due to a net loss of about KRW 2.3 billion as a result of fiscal management in 2024'

"This is the result of the increase in essential expenditures such as the expansion of the team size and the increase in labor costs as a result of advancing to the Asian Champions League Elite (ACLE), while the corresponding income is insufficient," he said. "The club added that while the team's performance and income from Gwangju Metropolitan City support, admission revenue, product sales, and transfer fees increased by 6.4 billion won over the year from about 15 billion won in 2023 to about 21.4 billion won in 2024, but it nevertheless failed to comply with the financial consolidation system."

Photo provided=Korea Professional Football Association

Gwangju was disciplined for violating the fiscal consolidation system last year. It was a disciplinary action against recruiting players during the additional registration period (June 20 to July 31) until the club's actual income rose to the level stated in the budget. The Professional Football Federation reportedly discussed Gwangju's financial soundness violations at the Finance Committee, which discussed the financial status of all K-League clubs on the 27th. The federation said the finance committee will carefully decide whether to refer Gwangju to the reward and punishment committee from various angles. If Gwangju is referred to the reward and punishment committee for the first time in the fiscal consolidation system introduced in 2023, there is a possibility of disciplinary action.

Gwangju repeatedly apologized, saying, `I feel a heavy responsibility for these results and once again apologize to the citizens and fans who love the club.' The club has made fiscal consolidation a top priority since 2025 and is committed to fiscal consolidation to prevent further debt by reducing unnecessary budgets and expanding its own income. I say that I will pay off my debts on an annual basis. We will do our best to become a responsible club that is not ashamed of our fans.

The solidarity contribution crisis is also ongoing. Gwangju was removed from FIFA's list of prohibited players from registering as soon as they paid their solidarity contributions and fines in full on the 21st. The Korea Football Association confirmed that the FIFA Clearing House received a solidarity contribution to be paid by Gwangju. As a result, we inform you that the disciplinary proceedings against Gwangju will be terminated immediately and that the ban on player registration will be lifted.'" Separately, FIFA has yet to make a judgment on Gwangju's failure to comply with disciplinary action by recruiting more than 10 players and putting them into the game last winter, when the player's registration was prohibited. A final decision is expected to be made around July.

This article was translated by Naver AI translator.