SAO PAULO (AP) — 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.