The Confederation of African Football (CAF) announced commercial revenues of $124-million at the CAF 45th Ordinary General Assembly in Abidjan, Ivory Coast on Thursday.
It represents a 17% year-on-year increase and $21.6 million in revenue growth over the previous financial year which was cited to the increase in sponsorship and television rights as CAF continues to move towards their financial recovery
The total competition expenses on prize money and tournaments for the year increased by 26% to $78.9 million.
CAF had to take some difficult decisions on the longstanding dispute with French company Lagerdere which was a controversial termination of contract under the previous administration of Ahmed Ahmed.
In the year under review, CAF recorded an improved total comprehensive loss position of $15.7 million from prior year position.
According to the official statement released by CAF; Development expenditure increased from $19.3 million to almost $24 million, on account of an increase in the subvention payout to Member Associations and Zonal Unions for Football Development on the continent.
