Connect with us

News

CAF Increases Prize Money By 40% As Deficit Shrinks

Published

on

The Confederation of African Football (CAF) has announced a significant financial turnaround, reducing its deficit from $28.9 million to $9.2 million in the 2022-2023 fiscal year.

This was disclosed during the 46th CAF Ordinary Assembly, chaired by CAF President Dr. Patrice Motsepe, held in Addis Ababa, Ethiopia.

The financial progress marks a major improvement compared to the previous year when CAF reported a deficit of $45 million.

This positive trend is largely attributed to strategic reforms initiated by the CAF management in 2021, aimed at strengthening the organization’s financial health.

CAF has also projected a net profit of $11.7 million for the 2024-2025 fiscal year, signalling the first time in years that the governing body anticipates a financial surplus.

This surplus is expected to further enhance CAF’s ability to invest in the development of African football at all levels.

Key drivers of the improved financial performance include increased revenue from media rights and sponsorship deals related to CAF competitions.

This revenue growth has enabled the organization to increase financial support to its Member Associations, doubling annual subventions from $200,000 in 2021 to $400,000 in 2024-2025.

CAF has also committed 84% of its expenditure toward African football development, emphasising prize money, competition organization, and football development programs.

The financial stability achieved is expected to further propel the growth and development of the sport across the continent.

Author

News

WAFU B U20 Championship: Flying Eagles Soar Over Elephants Into Semi-Finals

Published

on

Nigeria came from behind to edge a flaming battle with Cote d’Ivoire 2-1 in Lome on Thursday to reach the semi-finals of this year’s WAFU B U20 Championship.

In the event, Burkina Faso’s Young Etalons were eliminated on inferior goal-count against those of the Flying Eagles and the Young Elephants. Nigeria scored two goals and conceded two, same for the Ivorians, with all three teams in group B finishing with three points each. The Burkinabes scored one and conceded one, in beating Nigeria and losing to the Ivorians, by the odd goal each way.

Victory handed Aliyu Zubair’s side the opportunity to continue chasing the defence of their title, won in Niamey two years ago.

A feisty first half at the Municipal Stadium ended scoreless. Bidemi Amole’s hopeful shot from distance sailed wide, while striker Kparobo’s powerful shot was pushed out for a corner by the Ivorian goalkeeper.

In the 39th minute, Nigeria’s appeal for a penalty was rejected by the referee. As the first half drew to a close, the Flying Eagles continued to press, with Amole’s effort crashing against the crossbar.

The second half witnessed increased urgency from the Flying Eagles. Côte d’Ivoire’s effort was chalked off in the 48th minute, and Nigeria’s striker Kparobo was denied by the goalkeeper in the 53rd minute. Amole, again, came close soon after.

The Ivorians finally broke the deadlock in the 62nd minute, but Clinton Jephta equalized for Nigeria shortly after. Kparobo Arierhi scored the winning goal, securing a 2-1 win for the Flying Eagles.

“We showed resilience and determination,” said Coach Aliyu Zubairu, “We’re delighted with the victory and look forward to the semi-finals.”

Nigeria will take on Niger Republic in Saturday’s semi-finals.

Author

Continue Reading

News

Former Sports Minister Sunday Dare Brings Euro Scouts To Nigeria As Talent Hunt Tourney Holds In Ibadan 

Published

on

Immediate past Minister of Youth and Sports Development, Sunday Dare, is sponsoring a groundbreaking football tournament aimed at showcasing young Nigerian talents to scouts from across the world.

The tournament, scheduled for October 23-24th at the Adamasingba Stadium in Ibadan, will provide aspiring footballers the chance to secure professional contracts that could transform their lives and communities.

Scouts from Israel, Romania, and Egypt are expected to attend the event, alongside representatives from Spanish giants Real Madrid and Rayo Alcobendas, further raising the stakes for these budding stars.

This initiative aligns with Dare’s passion to contribute in nurturing and developing sports talent in Nigeria, while giving.m back to society through the creation of opportunities for young people.

Organizers stated that the tournament underscores the importance of youth and sports development and the role it plays in empowering communities and fostering global opportunities for Nigerian athletes.

Author

Continue Reading

News

Paris 2024:  Paralympic Committee Nigeria Set To Honour Paralympians

Published

on

Paralympic Committee Nigeria (PCN) has concluded arrangements to host the country’s Paralympians after the recently concluded Paralympics held in Paris, France.

As contained in a statement issued by the President of the PCN, Sunday Odebode and made available to newsmen on Monday by the Public Relations Officer of the Committee, Niyi Alebiosu, the gala /award nite will hold on Friday at Balmoral Hall, Sheraton Hotel, Ikeja.

The Honourable Minister of Sports John Owan Enoh will be the chief host of the event during which distinguished personalities and athletes will be honoured with awards of excellence.

Odebode further stated in the statement that “this is a project of the PCN Board aimed at celebrating our athletes for their outstanding performance at the 2024 Paralympics, and to say a very big thank you to them all.

“Also, it will help boost their morale ahead of future international competitions.

This will also encourage all other athletes to improve on their performances. We are not limiting it to those who won medals at the Games but all our athletes.

“They have shown greatness and we have to appreciate them. This is the first time in the history of para sports and PCN and we hope to keep it going”.

He, however, informed that all efforts have been put in place to host a hitch free event that will mark the beginning of good fortune for para athletes in the country.

Author

Continue Reading

Trending