Information reaching us indicate that the Confederation of African Football(CAF) is yet to pay the top three winners of this year’s African Cup of Nations(AFCON).
According to reports an expected amount of $14.2m is supposed to be shared between the best 8 teams at the 2019 AFCON which CAF is yet to pay.
Algeria who won the 2019 AFCON was expected to be paid $4.5m; Senegal and Nigeria were expected to be paid $2.5m and $2m respectively for placing second and third at the tournament.
Extracts from the minutes of CAF’s Executive Committee meeting in Cairo on Tuesday 10th September 2019 which was obtained by Sports Extra revealed that the African football governing body’s present income does not match expenditure and its officials are dipping into its cash reserves to meet recurrent expenditure.
“It appears, from the analysis of the Finance Committee, that CAF has entered a cycle of structural deficit that will reach about six $6m at the end of this year if it is not reversed immediately,” CAF’s Finance Committee chairman, Fouzi Lekjaa was quoted saying.
“There is a need to reverse this deficit trend by rationalising spending and making use of better revenue potential for CAF.” He added.
According to a report by Brila FM days ago that the Nigeria Football Federation only received $600,000 from CAF in August from the total amount of $2m for finishing 3rd in the 2019 AFCON.
Algeria who won the competition and runners up Senegal with fourth-placed Tunisia yet to receive their full payment.
It was also learnt that CAF Champions League winners, Esperance of Tunisia are also caught up in the mess as they are still being owed $2.5m prize money.