Cricket South Africa (CSA) announced profits of R815 million (US$ 45.6 million) for the 2023-24 fiscal year after hosting India for two Tests, three ODIs and three T20Is in the December-January period and benefitting from a bumper SA20. As the majority shareholder in the T20 tournament, CSA earned profits of R54 million (US$ 3.02 million) from the event, which boasted a double-digit growth.
This comes after losses for the last three reporting periods - 2020-21, 2021-22 and 2022-23 which collectively amounted to R538 million (US$ 30.14 million). The turnaround was mostly due to the increased revenue derived from broadcast rights, which make up 54% of the CSA income.
The coffers were also boosted by the successful hosting of the 2024 Under-19 men's World Cup, which was moved to South Africa from Sri Lanka and generated revenue of R54 million (US$ 3.02 million). CSA's total ICC disbursements for the period were R566 million, (US$ 31.63 million) up from R290 million (US$ 16.2 million) in the previous year.
CSA is expected to enjoy another strong financial year in 2024-2025, largely due to hosting India for four T20Is in November. The revenue from those games is expected to be upwards of R150 million (US$ 8.38 million) per match. These figures again underline India's monetary importance and the incentive other countries have to host them as often as possible. CSA is starting to move slightly away from total dependence on the Indian national team, thanks to the SA20, but it is important to note that all six franchises are IPL affiliates.
The biggest beneficiary of CSA's financial turnaround is the women's game, which underwent professionalisation at the domestic level last season. CSA has spent R32 million on women's cricket (US$ 1.78 million). The cost of running professional cricket - the eight division 1, seven division 2 domestic men's teams and six provincial women's teams - remains CSA's biggest expense. They shelled out R633 million (US$ 35.3 million) on these costs, which also underlines one of the major problems in South African cricket: how reliant the domestic system is on CSA. The cost of the national teams amounted to R172.8 million (US$ 9.66 million) or almost a quarter of the domestic expenses.
Overall, CSA reported strong performance, in everything from the national teams - the men reached the semi-final of the 2023 ODI World Cup while the women beat Australia in an ODI and a T20I for the first time in the period under consideration - to grassroots cricket. The KFC mini-cricket programme, which targets children between the ages of six and 12 and has produced the likes of Wayne Parnell and Ayabonga Khaka, reported a 20% increase in participation, with over 100,000 children from more than 2000 schools participating. The rate of progression of those players to provincial and national teams is 15%.
CSA's AGM also marked the end of Lawson Naidoo's three-year tenure as CSA chair. A new chair will be elected at a special general meeting this month. The new chair will be chosen from the independent directors, in other words, not from presidents of provincial unions.
Local News
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