adminJOHANNESBURG. — The Local Organising Committee announced a profit of R3,6 million from the Africa Cup of Nations soccer tournament 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 percent more than their initial target, while the broadcasting rights from SABC exceeded their budget by 20 percent.
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. —News24.
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