Monday, January 25, 2010
AFRICA TO RECEIVE $150m
African soccer will receive $150m in television and marketing income over the next eight years in a significant increase in revenue for the Confederation of African Football (CAF).
Up to two years ago CAF were paid $5m annually for African Champions League rights and $5.5m every two years for the African Nations Cup.
CAF’s financial report, released ahead of their congress in Luanda on Friday, said the organisation had an operating profit of $939 000 over the last financial year and a cash balance of $18.8m.
It said CAF were spending almost $25m on three training centres in Cameroon, Ethiopia and Senegal.
French company SportFive have the exclusive rights to all African competitions at national, youth and club level.