SportsBusiness: Why CAF increased CHAN prize money to $10.4m

On this edition of Ripples Nigeria’s Sports Business, we shall take a look at the reason why the African Nations Championship also known as CHAN will enjoy a bigger financial package.

The CHAN is set to take place between February 1 and 28, 2025 across three nations – Kenya, Tanzania and Uganda – who are billed to jointly host the Africa Cup of Nations (AFCON) in 2027.

The Confederation of African Football (CAF) announced on Tuesday that the total prize money for the competition has been increased to 10.4 million dollars.

The African Nations Championship is usually for footballers plying their trade on the African continent unlike the AFCON which involves players from across the globe.

In a statement by CAF, one of the reasons for the increase in the total prize money was to boost the growth of Africa-based football.

CAF said the increase is by 32%, and the winner of the 2024 edition of the competition (billed for February 2025) will go home with $3.5m.

Read Also: SportsBusiness: Increased AFCON prize money’ll see winners bag $7m

Following the increased prize money, it means that the winners of CHAN will take home exactly half of what the winners of AFCON take home.

Ripples Nigeria recalls that a year ago, the continental football house announce a new prize money for the AFCON, with winners taking a whopping $7million alongside their gold medals.

The increased winning prizes are definitely serving as boosters for both the players and the countries, as nothing motivates sports men and women like bigger winning prizes.

President of CAF, Patrice Motsepe, said: “We are excited about the upcoming CHAN tournament; Kenya, Tanzania and Uganda 2024 and have significantly increased the Prize Money of the Winner to USD 3.5 million which is an increase of 75%.

“We have also increased the total Prize Money of the CHAN Kenya, Tanzania and Uganda 2024 to USD 10.4 million which is a 32 % increase.

“The CHAN is an important Competition for the development and growth of Africa-based football players and talented young players and will contribute significantly to the global competitiveness of African football and CAF Competitions.

“This Competition is part of our strategy of investing in African football and making it appealing and attractive to football fans, TV viewers, sponsors, partners and other stakeholders in Africa and worldwide.”

Meanwhile, 17 countries have already qualified for the competition; Kenya, Tanzania, Uganda, Morocco, Guinea, Senegal, Mauritania, Niger, Burkina Faso, Nigeria, Central African Republic, Democratic Republic of Congo, Congo, Sudan, Zambia, Angola and Madagascar.

Two additional countries will also participate in the CHAN Kenya, Tanzania and Uganda 2024 after qualifying from the remaining matches.

The CHAN is a biennial competition whoch began in 2009. Senegal are the defending champions.

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