Sports
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.
Harry Maguire, a Manchester United defender, has accepted Hon. Isaac Adongo’s apologies for dragging him through the dirt.
The Ghanaian politician previously rated the former Leicester City captain as the worst player recruited by the Red Devils.
Adongo was discussing the budget when he likened Vice President Mahamudu Bawumia’s economic management to Maguire’s on-field performances.
Mr Adongo, however, apologised to Maguire in Parliament on Tuesday, saying the Manchester United defender now performed better for his club than Dr Bawumia, whom he said had repeatedly supervised the country’s economic incompetence and had subsequently gone to the (IMF) for a bailout.
“I was very quick to compare my big brother Dr. Mahamudu Bawumia to Harry Maguire. Mr. Speaker, I now apologize to Harry Maguire…Today Maguire has turned the corner; he is a transformational footballer. Maguire is now scoring goals for Manchester United.”
“Mr Speaker, Harry Maguire is now a key player for Manchester United. As for our Maguire, he is now roaming at the IMF with a cup in hand,” he stated.
Following the apology, Maguire stated on social media, “MP Issac Adongo apology accepted.” “Hope to see you at Old Trafford soon.”
Meanwhile, Everton will play Manchester United in the Premier League on Sunday at Goodison Park.
Argentina’s World Cup-winning coach, Lionel Scaloni, has indicated that he is considering stepping down after five years in charge.
Scaloni made the stunning statement following Argentina’s 1-0 World Cup qualifying win against Brazil on Tuesday in Rio de Janeiro.
Before winning the World Cup in Qatar last year, the 45-year-old guided Argentina to the Copa America in 2021.
“Argentina needs a coach who has all the energy possible and who is well,” said Scaloni.
“I need to stop the ball and start thinking, I have a lot of things to think about during this time.
“It’s not goodbye or anything, but I need to think because the bar is very high and it’s complicated to keep going and it’s complicated to keep winning.
“These guys are making it difficult, so I need to think about it for a while. I will talk to the FA president and the players afterwards.”
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After a brief stint in command of Argentina’s under-20 team, Scaloni took over as manager in August 2018.
Argentina’s 2021 Copa America victory was their first major championship in 28 years, and it qualified them for the Finalissima against European champions Italy in June 2022, which they won 3-0 at Wembley.
Later that year, they won their third World Cup in Qatar, and first since 1986.
“We are sure and hope that Scaloni will continue,” said Argentina and Tottenham defender Cristian Romero.
“Let’s see now he will have time to think, he didn’t say anything in the dressing room about it. We will try to convince him.”
Argentina’s victory against Brazil on Tuesday was their first-ever away win over their rivals in World Cup qualification, and it took them two points clear at the top of the table.
The game at Rio’s Maracana stadium was delayed for 30 minutes due to a scuffle during the national anthems.
Chris Hughton’s Black Stars suffered their first competitive loss as head coach, falling 1-0 to Comoros in the 2026 World Cup Qualifiers.
Myziane Maolida’s first-half goal was enough to give the hosts their second straight victory over the Black Stars.
Ghana is now in fourth position, three points behind early group leaders Comoros, who have won both of their initial qualification games.
Following a tense, late win against Madagascar at the Baba Yara Stadium in Kumasi last Friday, there was some hope that the Black Stars may capitalise on Mali’s slip-up against the Central African Republic to grab the group lead.
Ghana could have grabbed an early lead in Tuesday’s encounter when Inaki Williams set up Antoine Semenyo for a goal, but the Bournemouth striker hit the crossbar.
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