The Ivorian club Africa Sports, which has recently emerged from an administrative crisis, is now facing significant financial challenges. Alexis Vagba has been appointed as the club’s president since January 25, 2014, inheriting a club burdened with debt and in need of extensive restructuring.
During the transition of leadership, the outgoing provisional administration, led by Me Cheickna Sylla, disclosed that the club’s debt amounts to 163,719,641 CFA francs. This debt includes outstanding payments such as player salaries, technical staff wages, and administrative expenses. Additionally, Africa Sports has taken out a loan of 15 million CFA francs, further exacerbating its financial obligations. With only 7 million CFA francs available in the bank, the club’s total debt reaches around 204 million CFA francs.
Despite the daunting challenges ahead, the new president, Alexis Vagba, is determined to tackle the situation head-on. “The difficulties are enormous, but we are committed to rising to the task that lies ahead,” emphasized Vagba. One potential avenue to alleviate the financial crisis is through the club’s transfer revenue. According to reports from Abidjan.net, player agents owe approximately 356 million FCFA to Africa Sports, providing a source of income that could help address the club’s financial woes.
