Organisers of the 2013 African Cup of Nations (Afcon) have declared that the profit made from the three-week tournament is about R3.6m (about N58m/£239,000).
Delivering the final report and financial results at the South Africa Football (SAFA) House yesterday, a net profit of R3,639,890 against a budgeted amount of R535,139, meant that the LOC produced a yield nearly seven times that required to make the tournament a financial success.
In other words, the local organising committee have exceeded its own expectations on the tournament, which was won by Nigeria, by about $305,000.
Sponsorships, the LOC divulged, amounted to 150 percent more than their initial target, while the broadcasting rights from SABC exceeded their budget by 20%.
Though attendance was poor at some games, the overall number of 753 169 fans exceeded the target of 500 000.
Although the LOC chairman Mwelo Nonkonyana said the report “clearly depicts a positive financial position for the tournament,” it underlines the gap between Africa’s top tournament and the money-spinning World Cup, and shows how far the Cup of Nations lags behind in commercialising its product.
While the tournament was judged as a success, there were always lessons to be learned, Minister of Sport Fikile Mbalula said.
“From this tournament, we should be in 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 added.
Mbalula said the South African government for the most part, was pleased to receive the report.