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In a bid to improve the commercial value of competitions, CAF has put aside a total of $7.9 million for the ongoing championship in Algeria.
The Confederation of African Football, CAF, has confirmed a cash windfall for teams in Algeria's ongoing African Nations Championship, CHAN.
Pulse Sports Nigeria can report that the football governing body has announced a significant increase of 60% on prize money for the winner of the current edition.
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The decision from CAF comes with a stamp of authority from its President, Dr Patrice Motsepe, in line with the body's plan to increase the commercial value of competitions in the continent.
"The Confédération Africaine de Football (CAF) has announced a significant 60% increase on the prize money for the winner of ongoing TotalEnergies African Nations Championship (CHAN) Algeria 2022," a statement from CAF's media noted.
A breakdown of the prizes
The winner of this year’s CHAN is set to pocket a whopping sum of $2million compared to the US$1,250,000 received by the previous champion two years ago, an increase of $750, 000.
The runners-up will get US$800,000 while the third and fourth-placed teams are expected to recieve $500,000 each.
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Meanwhile, for the four sides that failed to progress beyond the quarter-finalists, they will receive $400,000 each while the two countries that finished second in the groups of three teams will earn $300,000 each, the same amount as countries that finish third in groups of four teams.
CAF also stated that there is something for the countries that finished bottom in the group stages. The teams will earn $200,000 each.
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More on 2022 CHAN prize hike
The total prize money allocated for the tournament has also been increased to $ 7,900,000 from the $ 5,450,000 that was paid to all the countries that participated in the previous edition of the tournament two years ago.
The quarterfinal of the 2022 CHAN gets underway later tonight, with the final to be played on 04 February 2023 at the new Nelson Mandela Stadium in Algiers.
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