As anticipation builds for the highly awaited AFCON 2023, football enthusiasts and stakeholders are left pondering a crucial question: How much revenue will the Confederation of African Football (CAF) garner from this prestigious tournament?
Examining the historical financial success of AFCON, which reached over 79.7 million U.S. dollars in 2022, provides insights into the potential economic impact of the upcoming event.
Join us in exploring the factors that contribute to CAF's earnings and attempting to forecast the financial triumphs that AFCON 2023 might bring.
AFCON 2022: A revenue triumph for CAF
AFCON stands as a financial powerhouse for the Confédération Africaine De Football, achieving its highest revenue in 2022, surpassing 79.7 million U.S. dollars.
The tournament, originally slated for 2021, faced a postponement due to the global COVID-19 pandemic and unfolded in 2022, culminating in Senegal's historic victory in Cameroon.
Alongside AFCON's financial success, inter-club tournaments added to CAF's coffers, generating nearly 35.4 million U.S. dollars in the same year.
The preceding year, 2021, witnessed inter clubs contributing close to 46.3 million U.S. dollars, marking a significant financial milestone for CAF.
In a significant financial stride, the Confederation of African Football already reported a substantial increase in commercial revenues, reaching USD $125.2 million for the 2022–2023 financial year.
This marks a noteworthy uptick of $21.6 million compared to the previous financial year, primarily fueled by heightened sponsorship and television rights.
The 17% boost in income showcases the growing financial prowess of the continental football governing body.
However, it's essential to note that the surge in revenues comes hand in hand with increased competition expenses, with total expenditures on prize money and tournaments rising by 26% to reach $78.9 million for the year.
Anticipating record-breaking revenue: CAF's potential earnings from AFCON 2023
Predicting the exact revenue for AFCON 2023 is challenging due to various factors like sponsorship deals, broadcasting rights, and potential changes in tournament arrangements.
However, based on the historical trend of increasing revenues, it's plausible that CAF could see another boost in earnings.
If we consider a conservative estimate and assume a steady or slightly increased revenue trajectory, CAF might earn over 80 million U.S. dollars or more from the upcoming AFCON.
Keep in mind that actual figures can vary based on unforeseen circumstances and economic factors.
20% of the revenue generated by the upcoming AFCON will be dedicated to the development of local football in Ivory Coast.
CAF aims to distribute the funds strategically, allocating 30% to the host country, 35% to participating nations, 10% to regional (neighboring) countries, and the remaining 25% to the rest of the world.
This initiative is poised to make a significant impact on football development across the continent.
The 34th African Cup of Nations is set to captivate audiences globally, with broadcast coverage extending to over 150 countries.
Scheduled to unfold from January 13 to February 11, 2024, the 34th edition of the AFCON is set to captivate football enthusiasts.
Ivory Coast, marking its second stint as host after the 1984 finals, welcomes the continent for this prestigious football spectacle.
Originally slated for June-July 2023, the tournament underwent a strategic shift to avoid the challenges posed by the rainy season.
Interestingly, despite the rescheduling, the event maintains 2023 as part of its official title.
This article was most recently revised and updated 11 months ago
