A new 24-club super league that aims to revolutionize African soccer and become its richest competition has been launched by Confederation of African Football president Patrice Motsepe, even as his organization reported a loss of nearly $50 million last year. Motsepe said at the start of CAF’s general assembly in Arusha, Tanzania, on Wednesday that the new league would offer prize money of $100 million — over five times more than Africa’s current Champions League — and that each club in the inaugural season of the cross-continent competition would receive $2.5 million at the start to help fund its preparations and participation. The competition is scheduled to begin in 2023 and has the backing of FIFA, unlike Europe’s doomed Super League club project last year. The official launch was held Wednesday afternoon. Motsepe offered no concrete details of where the money to fund Africa’s new league would come from with CAF in financial difficulties. He said last month that CAF had been “inundated with investors and sponsors” for the league but is yet to announce a major commercial deal.
SOURCE: AFRICA NEWS
Tinubu Hits the Ground Running
Russian Minister Makes a Quick Stop in Nairobi
Four Men Absolved of Drug Trafficking in Liberia Disappear
Governments in Sub-Saharan Africa Struggle to Regulate the Mass Expansion of Online Gambling
Why Returns from European Countries are Hugely Unpopular in Most African Countries
A $3 billion IMF Bailout Will Not Instantly Solve Ghana’s Economic Problems
Can Kenya Successfully Establish Efficient and Affordable Smartphone Manufacturing?
How to Be a Female Politician in Africa
Egyptian Firm Unveils IoT-enabled Smartwatch
Women at the Forefront of Africa’s Peace Efforts
With ‘Banel & Adama,’ Ramata-Toulaye Sy Takes Her Place Among Cannes’ Top Names
The Lion Sleeps Tonight: One Song’s Journey from 1930s South Africa to Disney Money-Spinner