Egypt to receive 20 percent of AFCON 2019 proceeds – Report

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Ahead of the 2019 Africa Cup of Nations tournament, the host city, Egypt is set to reap bountifully from the proceeds of the biennial African tournament, the sportsbay reports.

According to reports, Egypt allocated around $25 million for this tournament, noting that the direct return of the organization of this tournament is expected to exceed this figure.

Egypt will receive 20 percent of all the proceeds of the African Cup of Nations, whether from sports broadcast, ticket sales or advertising.

According to Walid Gaballah, an expert on economic legislation in an interview with an Egyptian medium, he referred that Egypt will get the right to broadcast the games of this tournament on local television channels at a very special price, which does not exceed $1500.

The volume of sports tourism worldwide is estimated at $100 billion and Egypt needs to get the largest amount of it, he clarified.

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Germany’s revenues from the sale of sports products is estimated at DM600 million and that there are 400,000 jobs in Britain related to sports.

On December 31, 1998, the Council of the European Union fixed the irrevocable exchange rate, effective January 1, 1999, for German mark to euros as DM 1.95583 = €1.

In January, the Confederation of African Football (Caf) announced that Egypt will host the 2019 Africa Cup of Nations, by winning 16 votes, against one vote for South Africa.

Egypt emerged the competition host after original host Cameroon was stripped of the hosting right due to delay in the infrastructures availability.

The African Cup of Nations is scheduled to start on June 21 and end on July 19, 2019.

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Fido

•Sport writer/blogger • Media strategist •Good citizen of Nigeria and Social Media Evangelist and a core die hard Real Madrid fan.

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