Three Nigerian clubs, Remo Stars, Enugu Rangers and Elkanemi Warriors will receive 50 thousand dollars each as a fallout of Confederation of Africa Football, CAF, Ordinary General Assembly held in Addis Ababa, Ethiopia on Tuesday ( 22 October 2024).
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Remo Stars and Rangers International represented Nigeria in the 2024/2025 CAF Champions League but got eliminated in the preliminary round while Elkanemi Warriors too were booted out of the CAF Confederation Cup in the Preliminary round .
Remo Stars lost to AS FAR of Morocco 3-2 on aggregate over the two legs in the first Preliminary while Rangers to Angolan club Esperanca Sagrada 3-2 on aggregate and got eliminated in the second round of Preliminary round.
Elkanemi Warriors played 1-1 draw in the first leg of the CAF Confederation in Ikenne to Dadje FC but lost by 2-1 in Cotonou to exit the competition in the first round of Preliminary round, leaving only Enyimba FC of Aba to continue flying the flag of the country in the CAF Confederations Cup after they outdone Etoile Filante of Burkina Faso 4-2 on Penalties in the second round preliminary after both clubs played goalless over two legs.
In a release by CAF after the 46th Ordinary General Assembly confirmed an improvement in CAF’s revenue which allows clubs who participated in the preliminary round to be compensated for their effort as CAF Releases projections and investment areas for the 2024/2025 season.
” Under the leadership of CAF President Dr Patrice Motsepe, CAF has achieved the highest revenues in CAF Competitions as media rights and sponsorship revenues continued to grow significantly”.
” The increased revenues have enabled CAF to spend more in Financial Support for the Member Associations and Football Development progrmme. More than ever before, more is being allocated to driving Development Programmes, Schools Football, Match Officials and TV production” says CAF.
The Africa football governing body then projected a net profit of $11.7 million – for the first time in a long time and went ahead different sums of money in dollars for investment into the development of the game in the 2024/2025 season.
The body confirmed the introduction of and declared a Largesse of $50,000 Allowance to Clubs eliminated in the preliminary stages of the CAF Champions League and CAF Confederations Cup of which Remo Stars, Rangers and Elkanemi Warriors will be a beneficiary of the consolation for their inability to go further in the competition.
Other areas of investment in the new season are the following :
* CAF Subvention to Member Association increased by 100% (from $200,000 per MA in 2020-2021 to $400,000 per MA in 2024-2025)
* CAF Subvention to Zones increased by 50% (from $500,000 per Zone in 2020-2021 to $750,000 per Zone in 2024-2025)
