Company handling MFA ticket sales never filed audited accounts

The company behind the ticketing system used by the governing body for football in Malta, the Malta Football Association (MFA), has not filed audited accounts since its registration in 2012.

The MFA has continued to renew contracts with Pointsys Ltd, the company behind the MFA’s Tixpoint ticketing system, despite the company’s breach of company regulations.

When contacted, the football association claimed the choice of contractor was “dictated by market conditions and the specificities of the intended use”.

The MFA’s finances were recently subject to increased scrutiny following the publication of a financial report for 2023.

The report showed the MFA in a precarious financial position, with the association refinancing its bank loans.

Tickets for local football matches are purchased through the MFA website using the Tixpoint ticketing software. The ticket sales represent a significant revenue stream for the association, raising questions on why they are being processed by a company which has ignored requirements to publish its audited accounts.

The company’s listing on the Malta Business Registry shows David Pollina as its sole director and shareholder.

Pollina was also the director of ticketing company, Maltaticket.com, which was slapped with a prohibitory injunction by Heritage Malta in early 2012.

It was because the ticketing company continued to sell passes to Heritage Malta sites despite the contract’s termination.

Pointsys Ltd. was registered in October of that year.

The MFA said the system was “based on a contract of service used in several football stadiums,” which is “based on a set fee and does not involve revenue sharing.”

The Shift’s questions to Pointsys Ltd have not been answered at the time of publication.

In financial statements published last month, the MFA noted ongoing negotiations to refinance loan payments after its deficit accumulated to €5.6 million over the last years.

The report described funding from UEFA and FIFA football organisations as “critical” for the MFA’s survival.

Bjorn Vassallo was re-elected president of the MFA last month, with Maria Azzopardi serving as vice president. Vassallo was first elected in 2020, beating Chris Bonett, now transport minister, for the presidency.

                           

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2 Comments
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makjavel
makjavel
1 month ago

Look in the Offshore Leaks Database, and probably see the reason why .

Reality
Reality
1 month ago

Wherever you look – it’s corruption 370 degrees.

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