October 22 – Notwithstanding the fragile finances of the Confederation of African Football (CAF), the continent’s top football officials have been granted a pay rise following approval by the organization’s general assembly.
On Tuesday, CAF’s 54 member associations voted in favour of higher annual allowances for the elite officials of the continental body.
The 54 presidents will receive an annual allowance of $50,000, taken from the member associations’ subvention of $400,000. Motsepe called the $50,000 “insignificant”.
CAF vice presidents and CAF exco members will enjoy a raise of $20,000 and CAF Zonal Union presidents will receive a raise of $25,000. Danny Jordaan and Anouma, the two special advisors to CAF president Patrice Motsepe, will also receive a raise of $20,000. The chairperson of the African Club Association, a new body, will receive $50,000.
Motsepe had previously called for better pay for top executives at African football associations. Next year, the South African will be up for re-election, but the mining boss has not yet confirmed if he wants to run for a second term.
Motsepe recalled that when he arrived CAF had a negative balance of $45 million. The settlement with Largardere cost CAF $50 million as well, which Motsepe said was in “the best interests of the organisation.”
In November 2019, CAF cancelled a 10-year, $1 billion television and marketing rights deal with Lagardère Sports following judgments that the award of the contract breached competition rules. The cancellation, however, blew a major hole in CAF’s finances as the television deal was the confederation’s major stream of income. Ever since, CAF has been struggling financially.
Zambia FA president Andrew Kamanga presented the financial accounts for the financial year 2022-2023 with CAF’s losses dropping from $28.9 million to $9.2 million. Revenue was down from $125 million to $109 million. For 2024-2025, he projected revenue of $149 million and…
Source link : https://www.insideworldfootball.com/2024/10/22/motsepe-rubberstamps-pay-rises-member-association-presidents-caf-reports-9m-loss/
Author : Paul Nicholson
Publish date : 2024-10-22 14:02:02
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