Cricket South Africa (CSA) has reaped the rewards of prioritising its SA20 league over the traditional Test format, reporting profits of Rs 380 crore (R815 million) for the 2023-24 fiscal year. This marks a significant financial recovery for the board after three consecutive years of losses amounting to R538 million (South Africa currency). The turnaround comes on the back of strong revenue growth from the SA20 tournament, broadcasting deals, and key international fixtures.
SA20 success boosts revenue
CSA’s decision to invest heavily in the SA20 T20 league has paid dividends, with the organisation earning R54 million from the tournament.
The league saw double-digit growth in its second season, bolstered by high viewership and sponsorship. As the majority shareholder in the competition, CSA has benefited from the increased global appeal of the T20 format, particularly with all six SA20 franchises owned by Indian Premier League (IPL) affiliates.
SA20 broadcast rights drive Income surge
One of the main contributors to CSA’s financial recovery has been a sharp rise in income from broadcasting rights, which accounted for 54% of the organisation’s total revenue. Hosting India for a series of matches, including two Tests and three T20Is, was a major factor. CSA earned significant profits from these high-profile games, further highlighting the financial value of hosting the Indian national team.
The ICC’s disbursements to CSA also saw a significant increase, reaching R566 million, up from R290 million in the previous year. Additionally, the 2024 Under-19 Men’s World Cup, which was moved to South Africa from Sri Lanka, contributed R54 million to the coffers.
Financial windfall invested in Women’s Cricket
CSA’s financial recovery has allowed for greater investment in the women’s game, with R32 million spent on professionalising domestic women’s cricket.
This development marks a key milestone for the growth of women’s cricket in South Africa, as the sport gains more visibility and resources.
Challenges in Domestic Cricket for CSA
Despite the positive financial results, CSA continues to face challenges. Running professional cricket remains the biggest expenditure, with the organisation spending R633 million on domestic teams across men’s and women’s divisions.
The reliance of the domestic cricket system on CSA’s funding remains a concern, underscoring the need for sustainable revenue streams.
Grassroots Programmes Flourish
CSA’s grassroots cricket programmes, such as the KFC mini-cricket initiative, have also shown impressive growth.
The programme, aimed at children between the ages of six and 12, saw a 20% increase in participation, with over 100,000 children from more than 2,000 schools involved.
New leadership for CSA and SA20
The financial success comes as CSA prepares for a change in leadership, with Lawson Naidoo’s tenure as CSA chair coming to an end. A new chairperson will be elected in the coming weeks, expected to be chosen from the independent directors.
CSA’s strategy of prioritising the SA20 league over Test cricket has paid off handsomely, positioning the board for continued financial success in the years to come.
