Cafu closes foundation due to financial difficulties

By: Mauricio Savarese, The Associated Press Posted: 3:40 PM CST Monday, Dec. 23, 2019

SAO PAULO - Former Brazil soccer captain Cafu announced on Monday the closing of his foundation due to financial problems. Earlier this year, Cafu said the 16-year-old institution's social work cost him $40,000 per month.

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This article was published 23/12/2019 (2430 days ago), so information in it may no longer be current.

SAO PAULO – Former Brazil soccer captain Cafu announced on Monday the closing of his foundation due to financial problems. Earlier this year, Cafu said the 16-year-old institution’s social work cost him $40,000 per month.

The former AC Milan and Roma right-back said the decision comes after two years of difficulties. Fundação Cafu supports almost 900 children of Sao Paulo’s impoverished Jardim Irene region, which the player paid a tribute to on his shirt as he lifted the 2002 World Cup trophy.

“Today we put an end to this cycle, but we have a request: keep fostering dreams! Dream higher. Have faith and courage,” Fundação Cafu’s statement reads.

The statement also said the decision comes after “one of the biggest losses” of Cafu’s life, a reference to the death of his 29-year-old son Danilo from a heart attack in September.

Cafu, 49, has reportedly faced other financial problems in recent years.

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