The Confederation of African Football (CAF) has announced a significant 60% increase in the prize money for the winner of the CHAN tournament currently ongoing in Algeria.
The 7th edition of the tournament is happening in Algeria and has reached the quarter-finals stage. The final will be played on Saturday, February 4, 2023, at Nelson Mandela Stadium in Algiers.
The decision, which has been confirmed by CAF President Dr Patrice Motsepe, is in line with the organisation's strategy to increase the commercial value of all African competitions.
This year's CHAN winner will receive prize money of US$2,000,000 compared to the US$1,250,000 received by the previous champion two years ago.
The total prize money allocated for the tournament has been increased to US$7,900,000 from the US$5,450,000 that was paid to all the countries that participated in the previous edition of the tournament two years ago held in Cameroon.
The runners-up of the CHAN 2022 tournament will get US$800,000 while the third and fourth-placed teams will receive US$500,000 each.
The four sides that fail to progress beyond the quarter-finalists will get US$400,000 each while the two countries that finish second in the groups of three teams will earn US$300,000 each, the same amount as countries that finish third in groups of four teams.
The bottom-placed teams in all the groups will earn US$200,000 each.
The CHAN 2022 tourney started on January 13 and the final is scheduled to be played at the Nelson Mandela Stadium in Algiers on February 4.