In a groundbreaking move ahead of the 34th edition of the African Cup of Nations (AFCON), the Confederation of African Football (CAF) has substantially increased the prize money for the prestigious tournament, making it the most lucrative in the continent’s football history.
The announcement, made by CAF on Thursday, revealed a remarkable 40% surge in the prize money for the 2023 AFCON.
The grand prize for the Nations Cup winner has been elevated to an unprecedented $7 million, marking a significant increase compared to the previous edition.
This surge reflects CAF’s commitment to enhancing the financial allure of the tournament.
As per the newly unveiled prize distribution, the runner-up in Côte d’Ivoire is set to bag an impressive $4 million, while each of the two semi-finalists is guaranteed $2 million.
The four quarter-finalists will not be left empty-handed either, with each team securing a substantial $1 million as part of the increased prize pool.
In an exclusive statement to cafonline.com, CAF President Patrice Motsepe expressed his enthusiasm about the significant progress made in boosting the prize money for AFCON and other major competitions under his leadership.
Motsepe emphasized the commitment to enhancing financial rewards for participants, stating, “We have increased the prize money of the AFCON winner to $7,000,000, which is a 40% increase from the previous AFCON prize money.”
Motsepe further highlighted the broader impact of this financial injection, asserting that a portion of the prize money is expected to contribute to the development of football infrastructure.
He added, “I am confident that a portion of the prize money will contribute to developing football and also benefit all the football stakeholders, as well as assist our member associations with their administrations.”
As the football fraternity eagerly anticipates the kick-off of the 2023 AFCON in Côte d’Ivoire next week, the increased prize money not only adds a new layer of excitement to the tournament but also positions it as a more attractive prospect for top-tier teams across the continent.
The stage is set for a thrilling competition, where nations will not only vie for glory on the pitch but also for a record-breaking financial incentive that underscores CAF’s commitment to elevating African football to new heights.