You are here
Home > Administration > CAF makes GFA Rich

CAF makes GFA Rich

The Confederation of African Football, CAF have released some funds to the Ghana Football Association as part of payment to the countries which will soon be competing in Gabon for the AFCON 2017 Cup.

The Communications Director for the GFA, Ibrahim Saani Daara confirmed this to ghanamansports.com that his outfit has received an amount of $237, 000 from CAF in preparation for the AFCON 2017.

Saani said, this is the first time in the history of African football that CAF is undertaking such financial project and it shows African football has come of age as he hopes to see more of this in the future to enable National Football Associations and Federations in Africa become more formidable in promoting the game on the continent.

CAF is billed to release a total of $475, 000 to each participating country in the AFCON 17.

From 2017, the winner of the Afcon title in Gabon will take home $4 million, a significant increase on the previous $1.5m prize money.

The increase in prize money would not only be for the winners but for all teams involved in the Afcon. Runners up will now receive $2 million, a 100 percent increase; semi-finalists bag $1.5m, up from $750,000, and quarter-finalists pocket $800,000, $200,000 more than in the past.

There is greater incentives to participate in the competition now with third-place finishers in the group stage set to get $575,000, up from $500,000, while bottom-placed sides would now receive $475,000, an increase from $400,000.

This comes as part of the new deal that Caf reached with French multinational oil group Total in July which allowed the petroleum giant to take over the sponsorship of all 10 events run by the governing body.

The African Confederation recently signed a sponsorship deal with TOTAL which saw an increament in the finances of all CAF competitions for club and country.

The overall expenditure on prize money goes up from $10 million to $16.4 million for the Afcon.

Caf also announced that the winners of the Champions League will get $2.5million, up from $1.5m, while the Confederation Cup prize money will become $1.25m, up from $660,000.

 

Leave a Reply

Top
%d bloggers like this: