CSA Reports R815 Million Profit for 2023-24 Fiscal Year

Cricket South Africa (CSA https:cricket.co.za) has announced a profit of R815 million (US$ 45.6 million) for the fiscal year 2023-24, boosted by the successful hosting of India for a series of two Tests, three ODIs, and three T20Is during the December-January period, along with a lucrative SA20 tournament. As the main shareholder of the T20 league, CSA earned R54 million (US$ 3.02 million) from the event, which saw notable growth.

This financial success stands in stark contrast to the combined losses of R538 million (US$ 30.14 million) experienced over the previous three years, 2020-21, 2021-22, and 2022-23. CSA's recovery has largely been driven by a significant increase in revenue from broadcasting rights, which made up 54% of the organisation’s total income.

Moreover, hosting the 2024 Under-19 Men's World Cup, relocated from Sri Lanka to South Africa, generated an additional R54 million (US$ 3.02 million). Total disbursements from the ICC for this period reached R566 million (US$ 31.63 million), compared to R290 million (US$ 16.2 million) the prior year.

Looking forward, CSA anticipates another strong financial performance in 2024-2025, particularly with the upcoming four T20I matches against India in November expected to bring in over R150 million (US$ 8.38 million) per match. This underscores the financial importance of India to CSA and the motivation for other nations to host them regularly. Although CSA is working to lessen its reliance on the Indian cricket team, aided by revenue from the SA20 league, all six franchises in the T20 league remain linked to the IPL.

The women’s cricket segment has notably gained from CSA's financial rebound, benefiting from the professionalisation of domestic women's leagues in the past season. CSA has invested R32 million (US$ 1.78 million) in this sector, though the management costs of professional cricket—which includes eight Division 1, seven Division 2 men's teams, and six provincial women's teams—remain CSA's largest expenditure at R633 million (US$ 35.3 million). National team expenses accounted for R172.8 million (US$ 9.66 million), nearly 25% of total domestic costs.

Overall, CSA has demonstrated strong performance, with the men's national team reaching the semi-finals of the 2023 ODI World Cup and the women achieving historic wins against Australia in both the ODI and T20 formats. Grassroots initiatives such as the KFC Mini-Cricket program, aimed at children aged six to twelve, reported a 20% increase in participation, engaging over 100,000 kids from more than 2,000 schools, with a 15% transition rate to provincial and national teams.

The CSA's Annual General Meeting also marked the end of Lawson Naidoo's three-year term as chair. A new chair will be elected at a special general meeting this month, with candidates coming from the board's independent directors, excluding provincial union presidents.