Cricket South Africa profits soar to R815 million for 2023-24

Cricket South Africa (CSA) has announced a significant financial turnaround, reporting profits of R815 million (US$ 45.6 million) for the 2023-24 fiscal year. This comes after suffering losses for the past three years, which totaled R538 million (US$ 30.14 million). The major boost came from hosting India for two Tests, three ODIs, and three T20Is in December and January, as well as the success of the SA20 league.

The SA20 tournament, where CSA holds a majority stake, brought in R54 million (US$ 3.02 million) in profits, thanks to its double-digit growth. Broadcasting rights also played a key role, contributing to 54% of CSA's income.

CSA's financial position was further strengthened by successfully hosting the 2024 Under-19 Men’s World Cup, which was relocated to South Africa from Sri Lanka. The event generated an additional R54 million (US$ 3.02 million). The total disbursements from the International Cricket Council (ICC) for the year also saw a substantial increase, reaching R566 million (US$ 31.63 million), up from R290 million (US$ 16.2 million) in the previous year.

Looking ahead, CSA expects another profitable year in 2024-2025, as India will return for a series of four T20Is in November. These matches are projected to bring in R150 million (US$ 8.38 million) per game. Although India remains a crucial financial partner for CSA, the organization is slowly shifting away from relying entirely on the Indian national team, thanks to the SA20 league. It is important to note that all six SA20 franchises are affiliated with Indian Premier League (IPL) teams.

One of the biggest beneficiaries of this financial upswing has been women’s cricket in South Africa. CSA spent R32 million (US$ 1.78 million) to professionalize the domestic women’s game last season. The overall cost of running professional cricket remains CSA’s biggest expense, with R633 million (US$ 35.3 million) spent on men’s and women’s teams across division 1, division 2, and provincial levels.

The national teams also contributed to the strong financial performance. The South African men's team reached the semi-finals of the 2023 ODI World Cup, while the women’s team recorded historic wins against Australia in both an ODI and a T20I. Additionally, grassroots cricket saw a 20% increase in participation through the KFC Mini-Cricket program, which has produced notable players like Wayne Parnell and Ayabonga Khaka.

CSA’s annual general meeting also marked the end of Lawson Naidoo’s three-year tenure as chair. A new chair will be elected at a special general meeting this month, chosen from the independent directors, rather than the presidents of provincial unions.