Cricket South Africa (CSA) has announced a significant financial turnaround, reporting a profit of $45.6 million for the 2023-24 fiscal year. This impressive recovery follows three years of financial losses totaling around $30.14 million.
The financial success of CSA can be attributed to several key factors:
- India Tour and SA20 Success: Hosting India for two Tests, three ODIs, and three T20Is during the December-January period proved highly lucrative. Additionally, CSA’s majority stake in the SA20 tournament, which experienced double-digit growth, contributed R54 million (US$ 3.02 million) to the profits.
- Broadcast Rights Revenue: A significant portion of CSA’s income, 54%, came from broadcast rights, underscoring the importance of media deals in the cricketing economy.
- Under-19 World Cup: The successful hosting of the 2024 Under-19 Men’s World Cup, relocated from Sri Lanka to South Africa, generated an additional R54 million (US$ 3.02 million) in revenue.
- Increased ICC Disbursements: CSA’s total ICC disbursements for the period increased to R566 million (US31.63𝑚𝑖𝑙𝑙𝑖𝑜𝑛),𝑢𝑝𝑓𝑟𝑜𝑚𝑅290𝑚𝑖𝑙𝑙𝑖𝑜𝑛(𝑈𝑆 16.2 million) the previous year.
Looking ahead, CSA anticipates another strong financial year in 2024-2025, with India scheduled to play four T20Is in November. Each match is expected to generate upwards of $ 8.38 million. While CSA is gradually reducing its reliance on India, thanks to the SA20 league, it’s noteworthy that all six SA20 franchises are affiliated with the Indian Premier League (IPL).
CSA’s strong financial performance is mirrored by on-field successes. The men’s team reached the semi-finals of the 2023 ODI World Cup, while the women’s team achieved historic victories against Australia in both ODI and T20I formats.
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