Nigerian clubs billed to feature in CAF continental competitions next season are in line to receive double in participation prize monies.
This was announced by Patrice Motsepe, president of the Confederation of African Football (CAF) on Saturday. He spoke after receiving the report of the Governance Compliance Committee set up to look into the structure at CAF and how to strengthen it.
“CAF is pleased with the Governance Compliance Committee Report on Governance non-compliance or weaknesses within the CAF Secretariat and strengthens Governance Practices and is in the process of increasing by 100% its financial contributions to over 130 African Clubs participating in the TotalEnergies CAF Champions League and the TotalEnergies CAF Confederation Cup,” Motsepe said.
Four Nigerian clubs including league winners, Remo Stars, Rivers United, Abia Warriors and Kwara United will represent Nigeria on the continent and will see an increase in funds received from CAF.
“I am very happy with the processes underway to increase by 100% CAF’s financial contributions to each of the approximately 130 African Clubs that participate in the TotalEnergies CAF Champions League and the TotalEnergies CAF Confederation Cup. CAF contributed for the first time last year, USD 50 000 to each Club. Each Club should now receive USD 100 000,” an elated Motsepe said.
He said this will help to grow African football especially in youth football development and also help African teams to compete favourably at the world stage.
“These financial resources will contribute enormously to the development and global competitiveness of African football and investment in Youth Football development and infrastructure.”
CAF has expanded its revenue net and is expecting over USD 1 billon from marketing deals within the next 8 years.