CAF initiates early payments to clubs
The Confederation of African Football has stated that it has begun paying clubs their cash entitlements, Extrasportsnigeria.com reports.
CAF said so in a statement which says: “In light of growing concerns and evolving nature of COVID-19 pandemic, leading to the suspension of football activities across the continent, CAF has resolved to accelerate the payment of final tranche of financial rewards to participating clubs in CAF Interclub competitions for the 2019/20 season.”
There is no Nigerian side left in any competition this year as Rangers and Enyimba fell off just before the Covid-19 break.
The distribution, which CAF said has commenced, was initiated to reduce the financial burden on the 32 clubs that reached the group stages of the Total CAF Champions League and Total CAF Confederation Cup.
“Clubs will receive their dues based on the established prize monies for each competition till the quarter-final stage, when the two competitions were suspended indefinitely due to COVID-19.
“The minimum guaranteed for clubs participating in the Total CAF Champions League is USD 550,000 and USD 275,000 for the Total CAF Confederation Cup.
CAF President Ahmad Ahmad then added: “The world of football and for that matter African football is going through unprecedented difficulties. The current situation has had a telling effect on African football stakeholders, and CAF is being responsive to the needs of our Clubs, one of our key stakeholders, by facilitating the payment of their prize monies well ahead of time.”
Usually, clubs received their financial entitlements for the Interclub competitions at the end of the season.