Four Nigerian clubs that participated in continental competitions this season are set for a significant cash boost, following an increase in prize money by the Confederation of African Football (CAF). The Nigerian Clubs are Set for ₦559 Million Boost After CAF Prize Money Increase.
CAF’s Increased Prize Money for Champions League and Confederation Cup
CAF announced an increase of $2 million in the winners’ prize for both the CAF Champions League and CAF Confederation Cup. The winners of the Champions League will now receive $6 million, a 50% increase, while the Confederation Cup champions will pocket $4 million, reflecting a 100% rise in the prize.
Additional Payouts and Increased Solidarity Payments
In addition to the winners’ prizes, CAF has doubled the solidarity payments for clubs eliminated in the preliminary rounds, increasing the amount from $50,000 to $100,000.
Using the current exchange rate of ₦1,398 to the dollar, each of the four Nigerian clubs is expected to earn around ₦559 million, despite some failing to reach the group stages.
Clubs’ Participation and Expected Earnings
- Remo Stars, reigning Nigeria Premier Football League (NPFL) champions, were eliminated in the Champions League qualifiers after a heavy 7-1 aggregate defeat to Mamelodi Sundowns.
- Kwara United and Abia Warriors, who qualified through the President’s Federation Cup, were knocked out in the preliminary rounds of the Confederation Cup.
- Rivers United made it to the Champions League group stage before being eliminated. If CAF maintains its previous payout structure for teams eliminated in the group phase, Rivers United could earn at least ₦1.53 billion from their continental campaign.
Conclusion
CAF’s prize money increase will undoubtedly benefit Nigerian clubs, with Rivers United, Remo Stars, Kwara United, and Abia Warriors set to receive substantial financial support, enhancing the competitiveness and sustainability of football in Nigeria.
This is IDNN. Independent. Digital. Uncompromising.