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| Hearts seeks clarification of remittance of CAF Cup monies |
6/22/2005 |
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Accra, June 21, GNA - Accra Hearts of Oak Sporting Club, winners of last year''s Confederations Cup after beating Kumasi Asante Kotoko on penalty shoot out, has written to the Confederation of African Football (CAF) seeking clarification on the amount of money they are entitled to for emerging as winners.
In a statement signed by Ashford Tettey Oku, Administrative Manager of the Club copied to the General Secretary of the Ghana Football Association for onward submission to CAF, the Club acknowledged receiving 155,192 dollars as income for their participation in the maiden CAF Confederations Cup but wants more clearer and concise explanation of the fund. The statement copied to the GNA Sports said Hearts are not satisfied with the amount received as it fell far short of what an Executive Committee meeting of CAF held on 16 October 2004 which came out with the financial package for clubs participating in the maiden Confederations Cup would receive.
The statement said according to the CAF circular received by the Club on November 2, 2004, the winner was entitled to 300,000 dollars, the runner-up 200,000 dollars, third placed Clubs in the Group 150,000 dollars and the fourth placed team to receive 100,000 dollars. It said the CAF circular also allotted 30,000 dollars to the Federation of the winning Club whilst the runner-up Federation will be entitled to 20,000 dollars.
The statement said Hearts were however disappointed with the prolonged delay in the release of the prize money, which has now depreciated in value considering the rise in the Club''s portfolio due to the interest rate charged on it. It said what was more worrying and shocking was the fact that they only received 155,192 dollars which was far below the 300,000 dollars earlier announced by CAF as the prize money for winning the ultimate trophy.
The statement called on CAF to clearly define its terms of reward for the winner of the competition to resolve the discrepancies that has arisen over the prize money. "Does it mean that judging from what we had, it means that the eventual winner of the competition received only 5,192 dollars more than the clubs that came second in each group, (Enugu Rangers and Cotonsport) during the league stages".
The Club said that if even assuming that CAF is taking into consideration the 60,000 dollars paid to all the eight Clubs that qualified for the group stage and the 50,000 dollars advanced to them for preparation towards the final were part of the prize package for the winner, then the Club was entitled to 190,000 dollars and not what they received. The statement asked that in the midst of the above differences, the Club is asking CAF to explain whether the 60,000 dollars qualification fee and 50,000 dollars were all part of the prize money.
It therefore asked CAF to quickly remit Hearts with the difference of 94,818 dollars, if the prize money is ob 250,000 dollars or 144,808 dollars if the prize money is 300,000 dollars. In addition to the Confederations Cup prize money, Hearts are also requesting CAF to dispatch their share of revenue for the CAF Super Cup match that they played against Enyimba. It said the Club was entitled to 25 per cent of the gate proceeds and 22.5 percent of Publicity and Television Right in line with Article 12 page 38 of CAF inter-club regulations.
Whilst demanding their share of the revenue from this year''s Super Cup, Hearts also reminded CAF that they are still to receive their share of the TV and Publicity Rights money for their Super Cup match against Zamalek of Egypt that was played at the Kumasi Sports Stadium in 2001 as well their cost of two days accommodation before the said match. Hearts have thus expressed their unhappiness with a similar frustration that they were made to go through in 2000 before they were given part of their share of the Champions League Winner''s prize money.Source: GNA
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