The prize money for the upcoming African Cup of Nations has been raised by CAF to a whopping $5 million (about N2.8 billion), as reported by NAN.
According to NAN, the Confederation of African Football (CAF) boosted the prize money for the champions from $4.5 million to $5.5 million dollars, making an 11% increase.
The decision was reached following a meeting of held by CAF’s Executive Committee in Douala, Cameroon, on Friday.
With the 2021 AFCON, kicking off on Sunday in Yaounde, the prize money increase take effect.
The competition’s runners-up will receive $2.75 million in prize money, up from the initial $2.5 million and an increase of 10%.
The prize money for the semi-finalists and quarter-finalists was also increased, for a total sum of $1.85 million on all prize money.
The rise, according to CAF, is in accordance with the organization’s commitment to rewarding excellent performance and elevating the competition’s stature, which is now in its 33rd edition.
The following is the new AFCON prize money structure:
- $5 million dollars to the winners (an increase of 500,000 dollars).
- $2.75 million dollars for the runner-up (an increase of 250,000 dollars).
- $2.2 million dollars for semi-finalists (an increase of 200,000 dollars).
- $1.175 million dollars for quarter-finalists (an increase of 175,000 dollars).