Cafu closes foundation due to financial difficulties

SAO PAULO (AP):

Former Brazil men's senior football team captain Cafu announced the closing of his foundation on Monday due to financial problems. Earlier this year, Cafu said the 16-year-old institution's social work cost him US$40,000 (roughly J$5 million) 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 FIFA 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.