CAF Scores Financial Turnaround with $9.48 Million Profit

The Confederation of African Football (CAF) has marked a notable financial recovery, reporting a net profit of $9.48 million in its 2023-2024 financial statement. This marks a significant turnaround after several years of financial deficits.

The profit surge is attributed to heightened commercial revenues and the securing of new sponsorships, along with rigorous financial controls. CAF has outlined key expenditure areas, including increasing prize money to $81 million for its competitions, spending $19 million on tournament organization, and allocating $35 million towards football development.

CAF President Patrice Motsepe highlighted the progress in negotiations for a long-term marketing and television deal valued at $1 billion, indicating a brighter financial future for the organization.