The Confederation of Africa Football, CAF, has commenced the payment of financial grants to clubs that participated in the CAF Champions League and Confederation Cup competitions for the 2019/2020 season in a bid to help cushion the impact of coronavirus also known as COVID-19, The SportsBay.com reports
In light of growing concerns and evolving nature of COVID-19 pandemic, leading to the suspension of football activities across the continent, CAF has resolved to accelerate the payment of final tranche of financial rewards to participating clubs in the Interclub competitions for the 2019/20 season according to a statement on the CAF website.
The distribution, which has since commenced, is to reduce the financial burden on the 32 clubs that reached the group stages of the Champions League and Confederation Cup, during these trying times.
Clubs will receive their dues based on the established prize monies for each competition till the quarter-final stage, when the two competitions were suspended indefinitely due to COVID-19.
The minimum guaranteed for clubs participating in the Champions League is USD 550,000 and USD 275,000 for the Confederation Cup.
“The world of football and for that matter African football is going through unprecedented difficulties. The current situation has had a telling effect on African football stakeholders, and CAF is being responsive to the needs of our Clubs, one of our key stakeholders, by facilitating the payment of their prize monies well ahead of time,” said CAF President Ahmad Ahmad.
Usually, clubs received their financial entitlements for the Interclub competitions at the end of the season.
Meanwhile, CAF is monitoring the situation closely and working with the relevant authorities including the Wealth Health Organization (WHO) on the impact of the virus on the continent, and will announce developments to our competitions at the appropriate time.