|Money and the football clubs: Kenya’s richest five|
By GILBERT WANDERA
In April this year, Forbes magazine listed Spanish giants Real Madrid as the richest club in the world. According to the magazine, the club was then worth an estimated Sh284 bilion.
In coming tops this year, Madrid eclipsed English champions Manchester United who enjoyed the status of the world’s richest club for nine years in a row.
United came second with a net worth of Sh272 billion. In the Kenyan Premier League (KPL), no independent study has ever been conducted to establish the financial health of local clubs and thus it is difficult to know exactly the richest team in Kenya.
However, after an extensive research and interviews with some club officials we unveil the top five richest clubs.
1. Gor Mahia (estimated worth Sh65 million)
Gor Mahia collects the highest amount of money in gate Collections at an average of Sh2 million per home game, which translates to Sh30 million in a season.
The club also receives another Sh29.5 million from shirt sponsors Tuzo and own a piece of land donated by the government to develop a stadium in Embakasi that is worth Sh4 million.
However, the status of the land remains unknown as a former politician is believed to have settled some squatters on it. Last season, Gor earned Sh2.5 million from the sale of replica jerseys.
The team has the potential of earning more than Sh10 million in sale of replica jerseys but this is not structured and has been left to unscrupulous businessmen who make a kill while the club gets nothing.
2. AFC Leopards (estimated worth Sh52 million)
In terms of revenue generated, AFC Leopards are next to arch-rivals Gor Mahia. The team has a Sh20 million per year sponsorship with Mumias Sugar Company.
In three years, the club will have been paid Sh65 million by the sugar company. The team also owns a Sh6.5 million bus which helps them cut down on transport costs significantly. Another Sh10 million is collected in gate collections while slightly more than Sh2 million is earned by the club on replica jerseys. Here also a lot of revenue is lost since most of the jerseys are sold illegally and the proceeds does not go to the club. If well structured, the club could make upwards of Sh8 million in sale of replica jerseys.
3. Sofapaka (estimated worth Sh50 million)
Among the teams taking part in the Kenyan Premier League (KPL), Sofapaka have benefitted the most in players transfer fees.