Sports

CAF announces a 17% rise in revenue and aspires to be globally competitive

Published

10 months ago

July 14, 2023

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CAF announces a 17% rise in revenue and aspires to be globally competitive

At its 45th Ordinary General Assembly in Abidjan, Ivory Coast, the Confederation of African Football (CAF) reported a 17% year-on-year growth in commercial income totalling $125.2 million.

This large increase of $21.6 million was mostly due to increased sponsorship and media rights.

The increase in revenue comes as CAF strives to make African football more competitive on a global scale. The organisation anticipates a larger financial recovery in the following months as media and sponsorship rights expand. CAF, on the other hand, remains conservative in its expenditures while the economy recovers.

CAF’s resolve to spend more in its events and make African football self-sustaining was reflected in a 26% rise in prize money and tournament expenditures, totalling $78.9 million. CAF President Dr Patrice Motsepe reiterated the organization’s commitment to CAF Competitions.

CAF addressed long-standing conflicts with several partners through out-of-court agreements during the year. Furthermore, the organisation followed audited accounting standards regulations, which were properly accounted for in the financial statements.

While CAF’s overall comprehensive loss position improved by $15.7 million from the previous year, the company remains focused on boosting the worldwide popularity and stature of its competitors. The CAF Champions League, CAF Confederation Cup, CAF Super Cup, CAF Women’s Champions League, Futsal, and Africa Schools Programme will be delivered in the upcoming fiscal year 2023/2024, with a projected budget of $110 million allocated for organisation and prize money.

CAF’s development spending has also grown, with an emphasis on assisting member associations and zonal unions in their efforts to improve football. Among the organization’s goals are investments in women’s and youth tournaments, referee capacity development, the adoption of Video Assistant Referees (VAR) at the zonal level, and increasing governance and controls over money.

Looking ahead, CAF is upbeat about its financial prospects for the fiscal year 2022/2023, owing principally to the impending Africa Cup of Nations in Ivory Coast in January 2024. The flagship competition is intended to significantly increase CAF’s financial resources.

Sports

Black Stars fitness coach Ricky Roy reportedly dead

Published

6 days ago

April 29, 2024

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He remained with the national squad for the 2022 FIFA World Cup in Qatar and the current Africa Cup of Nations in Ivory Coast. Roy rose to prominence as a member of the coaching staff for Division One League club Vision FC in February 2020, before joining the national squad.

Romeo Ricky Roy, the fitness coach for Ghana’s senior national team, has died.

According to Ghana Football Association president Kurt Edwin Simeon Okraku’s Facebook post, he died in Accra on Sunday, April 28, 2024.

Roy joined the Black Stars’ backroom staff in 2021, during Milovan Rajevac’s second spell as coach.

He remained with the national squad for the 2022 FIFA World Cup in Qatar and the current Africa Cup of Nations in Ivory Coast.

Roy rose to prominence as a member of the coaching staff for Division One League club Vision FC in February 2020, before joining the national squad.

Sports

Veteran Sports Commentator Joe Lartey dies at 96

Published

1 week ago

April 27, 2024

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Joe Lartey was born on June 6, 1927, in Accra and attended Accra Academy. Lartey, often known as "Over to You," was a well-known broadcaster and SWAG's founding president. Lartey began his media career as a football commentator with the Ghana Broadcasting Cooperation (GBC) in 1961. He grew to be a popular figure in Ghana's sports community. He subsequently spent a decade at Radio Nigeria before returning to GBC in 1990. During his stint, he presented shows including Sports Digest on GTV.

The Sports Writers Association of Ghana (SWAG) has reported the death of Joe Lartey, a veteran Ghanaian football pundit and sports writer.

He passed away on Friday, April 26, 2024, at the age of 96.

Joe Lartey was born on June 6, 1927, in Accra and attended Accra Academy. Lartey, often known as “Over to You,” was a well-known broadcaster and SWAG’s founding president.

Lartey began his media career as a football commentator with the Ghana Broadcasting Corporation (GBC) in 1961.

He grew to be a popular figure in Ghana’s sports community.

He subsequently spent a decade at Radio Nigeria before returning to GBC in 1990. During his stint, he presented shows including Sports Digest on GTV.

In appreciation of his achievements in sports journalism, Lartey received the coveted “A Life in Sport” award from the International Sports Press Association (AIPS) during the AIPS Sport Media Awards ceremony in Doha, Qatar, in June 2022.

Lartey’s impact stretched well beyond Ghana, with numerous Ghanaian football analysts praising him for moulding their careers.

Fans and colleagues alike will remember him warmly for his pioneering work in sports broadcasting.

Sports

Xavi to stay as Barcelona’s coach until at least June 2025

Published

1 week ago

April 25, 2024

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Xavi took over as manager of Barcelona in November 2021, after leaving Qatari club Al Sadd, and led the team to the Spanish title in his first full season in charge in 2022–23. However, they are 11 points behind La Liga leaders Real Madrid with six games remaining in the current season. Barcelona was eliminated from the Champions League last week after losing to Paris St. Germain in the quarterfinals.

Barcelona coach Xavi will stay with the club until at least the end of his contract in June 2025, having changed his mind about this being his final season.

The 44-year-old stated in January that he will stand down as manager this summer.

However, with president Joan Laporta desperate for him to stay, the former Barcelona and Spain midfielder has made a U-turn.

Xavi took over as manager of Barcelona in November 2021, after leaving Qatari club Al Sadd, and led the team to the Spanish title in his first full season in charge in 2022–23.

However, they are 11 points behind La Liga leaders Real Madrid with six games remaining in the current season.

Barcelona were eliminated from the Champions League last week after losing to PSG in the quarterfinals.

Xavi, who won 25 honours during his brilliant playing career at Barcelona, said he felt “liberated” with the revelation that he would leave the position at the conclusion of the season.

When he announced his departure following the defeat to Villarreal, he felt he was not being safeguarded by the club and there was no clear direction.

However, the team’s fortunes have improved since Xavi felt comfortable taking a more casual attitude.

They went ten games undefeated in the league before falling 3-2 to Real Madrid on Sunday.

On Wednesday, there was a meeting at Laporta’s residence, and the club’s desire for him to stay was clear.

If Xavi is unable to strengthen the squad before the conclusion of the 2024-25 season, Barcelona will attempt to persuade one of the high-profile managers out of contract, including Pep Guardiola, Luis Enrique, and Mikel Arteta.