Confederation of African Football, CAF, has not paid the top three winners of the 2019 African Cup of Nations (AFCON) due to it’s present financial status.
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, while Senegal and Nigeria were expected to earn $2.5m and $2m for coming second and third.
According to Sports Extra, during CAF’s Executive Committee meeting in Cairo on Tuesday, September 10, it was revealed that it’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.
“There is a need to reverse this deficit trend by rationalising spending and making use of better revenue potential for CAF,” CAF’s Finance Committee chairman, Fouzi Lekjaa said.
It was reported days ago by Brila FM that CAF is struggling to meet its financial obligations to the teams and Nigeria Football Federation only received $600 000 from CAF in August.
