CAF Records $5.56m Revenue Surplus

21st Jan 2008

The Confederation of African Football (CAF) said it has recorded a revenue surplus of US$5,56-million over the last two years as it received additional marketing and television income, investment windfalls and revenue from fines.

CAF's financial report, released at its congress in Accra on Friday, said it had earned an extra US$2,59-million from the last MTN Africa Cup of Nations finals in Egypt. It had budgeted a profit of US1-million but earned over US$3-million from increased sponsorship.

A total of US$670 000 was earned from fines paid by errant associations and clubs. "We have become less tolerant of infringements as we strive for the highest standards," CAF executive committee member Suketu Patel told the congress. African football's controlling body said its net worth now stood at US$30,5-million.
Patel said a new television and marketing deal signed for the next eight years with French company Sport Five would see an 80 percent increase in future revenue. But he would not give the total worth of deal insisting it was confidential.

CAF's financial report said it earned some US$23,5-million from TV and marketing rights for the two year period ending June, 2007.

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