Profitable season for CSA

Cricket South Africa has recorded a turnaround of R80 million (approximately US$10.3 million) after budgeting for a R75.9 million (approximately US$9.75 million) loss. Professor Hentie van Wyk, the CSA treasurer, attributed the board's R5.3 million (around US$682,500) operating profit to stronger negotiations, bigger broadcast deals, increased sponsorships and the South African board's successful hosting of international tournaments.

The results were announced at the board's Annual General Meeting in Johannesburg on Saturday in the presence of the South African team, which enjoyed a successful season, winning five out of eight Tests and 11 out of 14 ODIs, including two series wins over Australia both home and away. South Africa are currently No.1 in both Tests and ODIs in the ICC rankings.

"This favourable variance to budget is mainly due to interest received on increased cash balances, fee income related to the Champions League, IPL related income, increased sponsorship and international broadcast revenue," van Wyk said of the financial returns. "In many aspects, our positive financial results reflect the benefits to cricket of improved structures, expertise and management at all levels.

"Cricket continues to use a four-year profitability, and cash flow, cycle view to underpin cricket's long term stability and smooth funding. The current cycle began 2006-7 and ends 2009-10. Fruits of this approach are already being seen in the form of being able to fund larger increases in Amateur monthly funding and also doubling the Amateur Provincial Competition in 2009-10. "

van Wyk added that CSA expected greater revenues by the end of the 2009-10 season mainly due to the sale of television rights. "It is critical that all new cricket funding is able to be maintained in future years and the four year view supports this approach," he said. "Due to international TV rights being sold, last year, for significantly larger amounts, the next four year cycle will show an increasing revenue trend."