CAF says all its member associations, including Football Association of Malawi (FAM), will be getting $1 million (about K1 billion) each from the proceeds of the CAF Super League.
According to supersport.com, Confederation of African Football (CAF) president Patrice Motsepe said this on Sunday after a CAF executive committee meeting in Morocco.
He said: “A significant amount of the money from the tournament will be invested back into African football and part of the process involves giving $1 million every year to every one of CAF’s 54 member associations as a contribution to football and youth development.”
He also announced that the tournament will kick off in August 2023, but will be launched in Tanzania next month.
Details, including the official name, will be unveiled at the launch event.
In an interview on Monday, FAM president Walter Nyamilandu hailed CAF for the prospective funding.
He said: “This is windfall for the member associations where we stand to benefit even in the event that we will not take part in the tournament.
“We applaud CAF for brokering such a lucrative deal whose spin-offs are massive.
“It is great to see CAF stepping up to support its member associations financially.”
Motsepe said he expects the league to enhance competition among teams.
Winners and participants of the inaugural African Super League will receive significant prize monies and the proceeds from the tournament will include substantial solidarity payments to all 54 CAF member associations.
During last year’s extraordinary general assembly in Egypt, the 54 member associations unanimously voted to proceed with the competition and gave a mandate to the president and the executive committee to lead the implementation.
Motsepe said: “The decision has now been taken to implement the CAF Super League. It will start in August 2023 and we will launch it during CAF’s 44th Ordinary Assembly in Tanzania on August 10.”
“We have been inundated with investors and sponsors who are anxious to partner with us on the CAF Super League. It has huge potential to significantly uplift African football and to make it even more powerful.”
“We will be engaging with stakeholders over the next few weeks to discuss the mechanics of the tournament and will release further details shortly.”
Fifa president Gianni Infantino attended the meeting and Motsepe thanked him for his support towards the establishment of the tournament.
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