Hosting the World Cup at Estadio Banorte cost Club América’s owner almost a billion pesos.
Grupo Ollamani closed its third-quarter results with an accumulated operating loss of 967.8 million pesos from its FIFA World Cup operations, according to the company’s filing with the Mexican Stock Exchange, reported by Expansión.
The loss covers two quarters. Ollamani lost 557.2 million pesos on the tournament between April and June.
It lost another 410.6 million between July and September, the quarter when the fifth and final World Cup match was played at the stadium.
The third-quarter tournament income did not come close to covering the costs. World Cup activities generated 287.8 million pesos in the quarter, from the stadium rental and from hospitality, food and beverage services.
Across both quarters, the FIFA operations took in 1,709.7 million pesos against 2,677.5 million pesos in costs and expenses.
A Net Loss for the Quarter, a Profit for the Football Business
The World Cup bill dragged Ollamani to a net loss of 383.4 million pesos for the third quarter.
The football business itself told a different story. Without the extraordinary World Cup costs, Ollamani’s regular football operation posted an operating profit of 73.1 million pesos in the same period.
Ollamani has said the World Cup costs were extraordinary and temporary, and that they do not represent the normal performance of its businesses.
The final third-quarter figure also came in well above the company’s own estimate. In its July 31 filing, Ollamani projected an additional third-quarter hit of about 255.9 million pesos. The actual figure was 410.6 million.
The Suites Were the Biggest Single Problem
The costliest commitment involved the stadium’s suite holders. Estadio Banorte has 927 suites, and 777 of them are privately owned, with holders carrying 99-year use contracts.
To settle the conflict with FIFA’s requirements, Ollamani, through its subsidiary Fútbol del Distrito Federal, agreed to pay 62.4 million dollars for the acquisition and assignment of the tickets corresponding to those owners.
The company expected to recover part of that outlay by selling hospitality, food and beverage packages. The income fell short.
Through another subsidiary, HC2026, Ollamani also carried production, transport, security and operating costs for the World Cup activities and the FIFA Fan Festival in Mexico City.
Why This Lands on Club América’s Owner
Ollamani was spun off from Grupo Televisa on January 31, 2024, and trades on the Mexican Stock Exchange under the ticker AGUILAS.
The company operates Club América, in both its men’s and women’s teams, and runs Estadio Banorte. It also controls the PlayCity casinos and Editorial Televisa.
Emilio Azcárraga Jean chairs the board and, according to the company’s 2025 annual report, holds 61.2114 percent of the voting shares.
That structure is why the World Cup bill sits inside the results of the club’s owner, even though the loss came from the stadium operation and not from the team.
The numbers also land weeks before the December window, when sporting president Santiago Baños has said the club will try again for a No. 8 midfielder. Baños has not tied that search to the ownership’s results, and the filing gives no indication that the football budget changes.
On the field, América returns to Estadio Banorte on Saturday night against Toluca in Jornada 15. Here is where to watch Club América in the United States.
