Local Somali traders and international guests attend the Bayern Munich football school event in Addis Ababa, promoting sports and cultural exchange.
Top African players buying football clubs is part of a larger international trend. Rising earnings among players in the world’s top leagues have enabled more stars to test their business chops as owners. As football clubs become a more attractive asset class, star players are increasingly keen on sharing in the rising value their efforts on the field helped create. Cynthia Mumbo, who runs Nairobi-based sports business consultancy Sports Connect Africa, told Semafor Africa that lack of data and underdeveloped sports ecosystems in Africa were among factors that made Europe a more attractive sports investment destination for the continent’s stars. She predicts that the emerging ownership trends would open up new pathways for African talent to play for European clubs.
SOURCE: SEMAFOR