Clubs need at least US$500bn to properly fund the European Champions League, AS Monaco chief executive Jeremy Cottino has revealed.
Cottino was responding to earlier remarks made by Nairobi City Stars CEO Patrick Korir, who said Kenyan Premier League clubs, had a headache during the Caf Champions League qualifiers because of the staggering budget.
Both are panelists at the first African Football Business Conference which kicked off at the Weston Hotel in Nairobi on Tuesday. "To participate well in the Caf Champions League, the club needs to spend at least Sh12 million," Korir said.
"Clubs can invest heavily in the best players in the league and get the best coaches around. The question is whether the end justifies the means. Is it worth investing in all that when at the end of the day you can't even fund a team for a continental show?" Korir asked.
Cottino, looking surprised by the small amount Korir mentioned, said that it would take himUS$500bn to effectively feature in the Champions League campaign. The Monaco boss challenged Kenyan clubs to use the digital space.
"As we speak we have 10.5 million followers on Facebook and we update our page regularly. This keeps us in constant contact with our fans and ensures that we get constant support from the community," he said.
The CEO of AFC Leopards, Victor Bwibo said the club has had to use academy players as a way to save costs.
"It is expensive to maintain high salaries, especially for Kenyan clubs that depend more on gate collection to survive.
Signing big names is expensive and we have decided as a team to start identifying and developing talent from the grassroots level.
"We encourage our young players to climb the ladder on the way to the senior team. That is the only way we can use the limited resources we have," he said.
Former Kenyan international player Allan Wanga asked the players to raise their level to the required international standards to attract more foreign clubs.
"We need to strengthen the quality of our league first by managing it well and paying our players well. That is the only way we can raise our football standards and attract international attention," Wanga said.
Wanga played for the Petro Atlético club of Angola, the FC Baku club of Azerbaijan, Hoàng Anh Gia Lai in the Vietnam Premier League, Al-Nasr of Oman, the rocks of Sudan Al-Merrikh and Azam of Tanzania.
At the meeting, key stakeholders called on clubs and players to adopt healthy business practices in the game.
The conference brought together more than 100 representatives of Fifa, domestic and international clubs and leagues, confederations, educators, and government officials, among others.
Speakers focused on investment, talent management, the 2022 Fifa World Cup, governance, and the future of the game on the continent.
