South America’s Conmebol reports record revenue of $227 million

March 15 – The South American Football Confederation Conmebol has reported a record revenue of $227 million for 2018 after an increase in sponsorship for the continent’s flagship club competition the Copa Libertadores, but overall the organisation’s net profit fell. 

The 2018 result is a 10% revenue increase from the previous year when Conmebol earned $206.7 million. The fall in net profit was from $1 million to $243,000 in 2018.

Conmebol was founded in 1916, but has only published its financial results since 2017. The organisation’s previous three presidents have all been detained for corruption.

Conmebol’s books were audited by PwC. The increased costs for the confederation included the handing out of increased prize money as well as the unexpected costs associated with the Copa Libertadores ending in disarray with the final’s second leg between Buenos Aires siblings River Plate and Boca Juniors having to be moved away from the Argentine capital and the continent to Madrid in Spain.

For 2019 and 2020 the organisation is budgeting to generate record revenues again with the staging of consecutive Copa Americas. This summer Brazil will host the continental tournament and earlier this week Conmebol awarded the hosting rights of the 2020 edition to Argentina and Colombia.

Contact the writer of this story at moc.l1558479589labto1558479589ofdlr1558479589owedi1558479589sni@i1558479589tnuk.1558479589ardni1558479589mas1558479589