CAF's Multimillion-Dollar Settlement and Ambitious Growth Plan

The Confederation of African Football (CAF) settled out of court for $50 million with Lagardere Sports, which sued for abrupt contract termination. CAF announced significant profits and future revenue growth plans, aiming for $1 billion by 2030. Discussions with sponsors and policy reforms around national team treatment were highlighted.

The Confederation of African Football (CAF) reached a $50-million settlement with Lagardere Sports after canceling their $1-billion, 10-year marketing agreement. The settlement, reported at the CAF congress, was paid in two installments following two court rulings that found the deal improperly tendered.

CAF, led by President Patrice Motsepe, reported a $72-million profit from the latest Africa Cup of Nations and projects $150 million in revenue for 2024-2025. Plans include $1-billion revenue by 2030, aided by sponsor discussions and a $1-million annual allocation for each member association starting 2026.

Motsepe emphasized the need for fair treatment of national teams, citing an incident involving Nigeria in Libya, and called for enforcement of rules with possible sanctions. CAF is committed to enhancing respect and logistics for visiting teams to ensure smooth operations for future events.

(With inputs from agencies.)