African football makes a profit at the convention

The Confederation of African Football said in its most recent financial report that it had made a profit, ending a string of years of losses.

A strong rise in commercial revenues, the addition of new sponsors, and the implementation of strict financial controls were some of the reasons why CAF recorded a net profit of $9.48 million for the 2023–2024 financial year at its general assembly on Monday.

The African Football Confederation (CAF) said it made $166.42 million in sales and planned to spend most of that money on prize money for its competitions (to $81 million), tournament organization ($19 million), football development ($35 million), and government and administration ($21 million).

President of the organization Patrice Motsepe told members that talks on a long-term $1 billion deal for marketing and TV were almost over.