Afcon makes R3.6m profit

2013-07-29 19:30
AFCON (File)

Johannesburg - The Local Organising Committee (LOC) announced a profit of R3.6 million from the Africa Cup of Nations held in earlier in the year.

The LOC announced the figure at Safa House on Monday while presenting the financial results of the tournament.

A net profit of R3 639 890 against a budgeted amount of R535 139, meant the LOC produced a yield nearly seven times that required to make the tournament a financial success.

Sponsorships, the LOC divulged, amounted to 150% more than their initial target, while the broadcasting rights from SABC exceeded their budget by 20%.

Though crowd attendance was poor at some games, the overall number of 753 169 fans exceeded the target of 500 000.

Minister of Sport Fikile Mbalula said the report was welcomed by government.

“The work of the local organising committee speaks for itself. I think it was a job well done,” Mbalula said.

While the tournament was judged as a success, there were always lessons to be learned, he said.

“From this tournament, we should be in a position to improve even more for Chan.

“Our marketing is going to start earlier, unlike with Afcon, where nobody knew what was happening until the last moment.”

Mbalula said government, for the most part, was pleased to receive the report.

Read more on:    fikile mbalula  |  johannesburg  |  soccer

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