Cricket South Africa (CSA) has revealed a report that the board has yielded a significant turnaround in revenue for the 2023-24 fiscal year.
The South Africa board has announced a profit of R815 million for the previous year after hosting India for two tests, three ODIs, and three T20Is in December- January and benefitting from the SA20 league.
The majority shareholder in the T20 tournament, CSA has earned a profit of R54 million which boasted a double-digit growth.
CSA has reported a loss in the last three seasons 2020-21, 2021-22, and 2022-23 which collectively amounted to R538 million. The turnaround was mostly due to increased revenue derived from broadcast rights, which make up 54% of the CSA income.
Hosting the successful hosting of the 2024 U19 men’s World Cup which was moved to South Africa from Sri Lanka and generated revenue of R54 million. CSA’s total ICC disbursements for the period were R566 million up from R290 million in the previous year.
CSA is expected to enjoy another strong financial year in 2024-25, largely due to hosting India for four T20Is in November. The revenue from those games is expected to be upwards of R150 million per match. These figures highlight India’s discipline importance and the incentive other countries have to host them as often as possible.
CSA is starting to move slightly away from total dependence, but it is important to note that all six franchises are IPL affiliates.
Cricket South Africa reported a strong performance, in everything from the national teams where 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.
The KFC mini-cricket program, which targets children between the ages of 06 and 12 has reported a 20% increase in participation. Around 100,000 children from 2000 schools participated. The rate of progression of those players to provisional and national teams is 15%.
CSA’s AGM also marked the end of Lawson Naidoo‘s three-year tenure as CSA chairman. A new chair will be elected at a special general meeting this month. The new chair will be chosen from the independent directors and not from Presidents of Provisional unions.
