|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,333,972 members, 5,165,613 topics. Date: Saturday, 21 September 2019 at 08:31 PM
|Broke CAF Is Yet Pay 2019 AFCON Winners by adebuk47(m): 11:40am On Sep 12|
The top three winners of the 2019 African Cup of Nations (AFCON) are yet to get money over the Confederation of African Football's (CAF) broke state.
It was expected that $14.2m will be shared between the best eight teams at the 2019 AFCON but the continental football body is yet to pay out the sum. Algeria was expected to get $4.5m for winning the football tournament. Senegal and Nigeria on the other hand were expected to go home with $2.5m and $2m respectively for coming second and third.
However extracts from the minutes of CAF’s Executive Committee meeting in Cairo on Tuesday September 10, which was obtained Sports Extra, revealed that the continental football body's present income does not match expenditure and its officials are dipping into its cash reserves to meet recurrent expenditure.
“It appears, from the analysis of the Finance Committee, that CAF has entered a cycle of structural deficit that will reach about six $6m at the end of this year if it is not reversed immediately,” CAF’s Finance Committee chairman, Fouzi Lekjaa was quoted as saying.
“There is a need to reverse this deficit trend by rationalising spending and making use of better revenue potential for CAF.”
Brila FM reported days ago that the Nigeria Football Federation only received $600 000 from CAF back in August, from the total sum for finishing third in the competition. Winners of the competition Algeria and runners up, Teranga Lions of Senegal, and fourth-placed Carthage Eagles
|Re: Broke CAF Is Yet Pay 2019 AFCON Winners by adebuk47(m): 11:41am On Sep 12|
Front page material
|Re: Broke CAF Is Yet Pay 2019 AFCON Winners by Xhaka100(m): 11:52am On Sep 12|
Broke or corrupt?
|Re: Broke CAF Is Yet Pay 2019 AFCON Winners by GOFRONT(m): 11:57am On Sep 12|
One Corrupt element has succeeded in Running CAF aground Financially.....If u know..
|Re: Broke CAF Is Yet Pay 2019 AFCON Winners by simonlee(m): 4:27pm On Sep 12|
When Egyptians refused to come out and watch other nations play at AFCON how could they generate enough revenue?
TV rights and sponsorship funds were shared by the corrupt executives long before the tournament began only for Egyptians to scatter their plans
|Re: Broke CAF Is Yet Pay 2019 AFCON Winners by adebuk47(m): 4:58pm On Sep 13|
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2019 Oluwaseun Osewa. All rights reserved. See How To Advertise. 24