April 3 – Conmebol posted record revenue of $509 million in 2019, the South American governing body announced on Thursday during its 72nd Congress, which was staged by teleconference.
The revenue doubled from 2018 when Conmebol’s turnover was just $227 million. The major uplift was the result of increased TV income and sponsorship. Conmebol said it had reinvested 93% of the revenue back into the game.
But not everything was rosy for the confederation. In 2019, Brazil staged the Copa America and Flamengo won the Copa Libertadores, the South American equivalent of the Champions League and Conmebol’s flagship club competition. Both competitions were, however, came in for criticism.
Amid general tournament fatigue in South America, the Copa America alienated fans with high ticket prices and supporters again bore the brunt when Conmebol was forced to switch the Copa Libertadores final from Santiago to Lima at the last minute.
Following the outbreak of the coronavirus, Conmebol postponed the 2020 Copa America, due to be co-hosted by Argentina and Colombia, by a year. With football in lockdown around the world, Conmebol president Alejandro Dominguez stressed that there was no rush for football to resume. South America’s football supremo is confident that Conmebol will weather the storm.
He said: “With the house in order and solid finances, we will be able to face these exceptional circumstances with confidence and with the necessary response capacity, both in the financial and the institutional.”
Conmebol also announced the creation of a reserve fund of $27 million. The organisation’s council will decide on the fine print of the fund.
The South American confederation, founded in 1916, only began publishing its financial results in 2017 after its three last presidents Nicolas Leoz, Eugenio Figueredo and Juan Angel Napout were arrested on charges of corruption.
Contact the writer of this story, Samindra Kunti, at moc.l1713448299labto1713448299ofdlr1713448299owedi1713448299sni@o1713448299fni1713448299