FILE - African Cup of Nations FILE - African Cup of Nations

Egypt to receive 20% of African Cup of Nations’ proceeds: expert

Sun, May. 12, 2019
CAIRO – 12 May 2019: The African Cup of Nations Championship is very important for returning Egypt to its position in terms of sports, WalidGaballah, an expert on economic legislations, said.

Gaballah added in a phone interview that Egypt allocated around $25 million for this tournament, noting that the direct return of the organization of this tournament is expected to exceed this figure.

He pointed out that Egypt will receive 20 percent of all the proceeds of the African Cup of Nations, whether from sports broadcast, ticket sales or advertising.

Gaballah referred that Egypt will get the right to broadcast the games of this tournament on local television channels at a very special price, which does not exceed $1500.

The volume of sports tourism worldwide is estimated at $100 billion and Egypt needs to get the largest amount of it, he clarified.

According to Gaballah, Germany's revenues from the sale of sports products is estimated at DM600 millionand that there are 400,000 jobs in Britain related to sports.

• On December 31, 1998, the Council of the European Union fixed the irrevocable exchange rate, effectiveJanuary 1, 1999, for German mark to euros as DM 1.95583 = €1.

In January, the Confederation of African Football (Caf) announced that Egypt will host the 2019 Africa Cup of Nations, by winning 16 votes, against one vote for South Africa.
The African Cup of Nations is scheduled to start on June 21 and end on July 19, 2019.
 
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