CAF confederations has announced that prizes awarded to CAF competition winners were not adequate and decided to increase prize money as they uphold quality football in Africa. Big prize-money boost comes after the CAF Executive Committee tackled a number of factors. AFCON winners will take prize money home not $1,5 million approximately R20 million but $4 million which is approximately R53 million. While runner up will take $2 million.
The boost is set to be effective from the 31st Africa Cup of Nations in 2017 in Gabon. According to a letter obtained and disseminated by Ghanaian reporter Saddick Adams, the CAF Confederation Cup and CAF African Nations Championship (CHAN) will receive noteworthy upgrades to the prize money on offer.
“In view of the decision made by the CAF Executive Committee during its meeting held in Cairo, Egypt, on September 27th 2016, CAF hereby informs you of the update of the Revenues Grid detailing the allocation of revenues for the national teams and clubs taking part in the final phases of CAF competitions during the four-year cycle 2017-2020.
“The Grid has been revised upwards, taking into consideration the new agreements reached with our agencies in charge of commercializing [sic] TV and marketing rights of CAF competitions. The allocations… are applicable as from January 2017,” said the letter.