The Confederation of African Football (CAF) announced a significant 17% year-on-year increase in commercial revenues, reaching $125.2million.
The rise of $21.6million was driven by higher sponsorship and television rights, signaling a positive path towards CAF’s financial recovery.
CAF President Dr Patrice Motsepe’s commitment to investing in CAF competitions and making African football self-sustainable led to a 26% increase in competition expenses, totaling $78.9million.
CAF settled longstanding disputes with some partners out of court and made appropriate provisions in the financial statements as recommended by auditors.
In terms of financial performance, CAF improved their total comprehensive loss position to $15.7million compared to the previous year.
CAF announces a 17% rise in revenue and aspires to be globally competitive https://t.co/F4SOASbG9J #Sports
— Gh FrontPage (@Society_watch) July 14, 2023
Looking ahead, a budget of $110million has been allocated for upcoming premier competitions such as the CAF Champions League, CAF Confederation Cup, CAF Super Cup, CAF Women’s Champions League, FUTSAL, and the Africa Schools Programme in the 2023/24 financial year.
CAF aims to increase the global popularity and stature of these competitions by utilising the enhanced financial resources.
Development expenditure also saw an increase from $19.3million to nearly $24million, with a focus on providing greater support to Member Associations and Zonal Unions for football development on the continent.
