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CAF Is Broke, Yet To Pay 2019 AFCON Winners - Sports - Nairaland

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CAF Is Broke, Yet To Pay 2019 AFCON Winners by skyhighweb(m): 12:29pm 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.....

more on the news here

Re: CAF Is Broke, Yet To Pay 2019 AFCON Winners by skyhighweb(m): 2:41pm On Sep 12
africa get issue
Re: CAF Is Broke, Yet To Pay 2019 AFCON Winners by naijabruce: 3:35pm On Sep 12
I want to use this opportunity to beg UEFA to sign CAF on loan at least for a year.

Get free booking codes on my signature now

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