Caps United makes huge financials losses in 2-1 victory over USM Alger

6 years agoFri, 26 May 2017 03:04:37 GMT
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Caps United makes huge financials losses in 2-1 victory over USM Alger

Despite a 2-1 victory, in the CAF Champions League game against USM Alger on Wednesday, Caps United Football Club made a huge financial loss. The club needed at least 15 000 fans to attend the game in order to break even, but reports indicate that less than half that number attended the game. The club is also footing all its costs as it does not have a sponsor. The club did not reveal the exact figures of the loss.
Farai Jere, the club’s owner said:

The losses are very huge, we have done the figures, the reconciliation and it’s staggering to tell you the truth,

The figures just don’t add up and I had a lunch meeting with the ZIFA president Philip Chiyangwa where I told him of the serious predicament that we find ourselves in right now and to also appraise him of the losses that we suffered.

But amid all that joy that it brought, the reality is that we ran huge losses just to host that match and we have been looking at the figures and they are frightening and I even told the ZIFA boss that while our quest is to do well in this competition for our country, there comes a time when we also have to ask ourselves if we can continue to sustain such losses.

More: Herald

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