Paxtakor Football Club Reports Over 50 Billion UZS Loss in 2025 Financial Year
Tashkent's Paxtakor faces significant financial challenges with a 50.8 billion UZS loss and 17 billion UZS tax debt in 2025.
Paxtakor Football Club, one of Uzbekistan's most decorated teams, has reported a substantial financial loss exceeding 50 billion Uzbek soums (UZS) for the fiscal year 2025. This marks a stark reversal from the club's profitable performance in 2024, according to the latest financial statements obtained from the club's official reports.
Financial Overview of 2025
During 2025, Paxtakor generated total revenues of approximately 15.3 billion UZS from its main operations, supplemented by an additional 63.6 billion UZS from other income sources. However, the club's total expenditures dramatically outpaced revenues, reaching 128.9 billion UZS. This imbalance resulted in a net loss of 50.8 billion UZS for the year.
By comparison, the club closed 2024 with a net profit of 36.9 billion UZS, marking its first profitable year in many seasons. This sudden downturn in 2025 highlights the financial volatility the club is currently experiencing.
"Paxtakor faced unprecedented financial pressures in 2025, leading to operational losses despite generating considerable revenue streams."
Tax Liabilities and Ownership Structure
In 2025, the club paid nearly 11 billion UZS in taxes but still accumulated a tax debt amounting to 17.1 billion UZS. This outstanding tax liability adds to the club's mounting financial obligations and pressures.
Paxtakor is currently fully owned by the Tashkent city administration. The club is chaired by Jahongir Ortiqxo‘jayev, the former mayor of Tashkent and a prominent businessman. In early 2024, the State Assets Management Agency announced plans to put the club up for sale. However, no official updates on a sale have been provided since.
Notably, Ortiqxo‘jayev has expressed intentions to develop the club but has stated he is unwilling to pay even a nominal fee for the privatization of the club and its stadium, signaling potential challenges ahead in attracting private investment.
Implications for the Uzbek Football Market
Despite the financial difficulties, Paxtakor finished the 2025 Uzbekistan Super League season in second place with 60 points, following their championship win in 2023. This strong sporting performance contrasts with the club's precarious financial standing.
Looking forward, the Uzbekistan Super League is set to receive significant state funding: starting in 2026, league participants will be allocated 35 billion UZS annually from the government budget, with phased reductions planned over the following years. The allocation will decrease to 30 billion UZS per club in 2027 and 25 billion UZS in 2028, encouraging clubs to develop independent revenue streams and financial sustainability.
The financial trajectory of Paxtakor underscores the broader challenges faced by professional football clubs in Uzbekistan as they navigate the transition from heavy state support toward greater fiscal autonomy amid competitive sporting demands.
