Cricket South Africa (CSA) has announced significant financial gains for the 2023-24 fiscal year, reporting a profit of R815 million (US$ 45.6 million). This marks a major turnaround for the organization after facing substantial losses in the past three years. The success comes from a combination of factors, including hosting a full-fledged India tour and a highly profitable SA20 tournament.
Profits Driven by India’s Tour and SA20 Tournament
The biggest contributor to CSA’s improved financial performance was India’s tour of South Africa in the 2023-24 season. India’s visit included two Test matches, three ODIs, and three T20Is, played between December 2023 and January 2024. This tour provided a significant boost to CSA’s coffers, with India’s financial pull being evident through both ticket sales and broadcast revenue.
CSA also benefitted greatly from the success of the SA20 tournament. As the majority shareholder in the T20 league, CSA earned R54 million (US$ 3.02 million) from the competition, which saw double-digit growth in revenue. The SA20 has quickly become one of the top domestic T20 leagues globally, and its association with the Indian Premier League (IPL) franchises has played a role in its commercial success.
Recovery After Three Years of Losses
The R815 million profit is particularly notable given that CSA reported losses for the three preceding fiscal years. From 2020 to 2023, CSA recorded losses amounting to R538 million (US$ 30.14 million) due to the impacts of the COVID-19 pandemic, reduced international fixtures, and limited domestic activity.
One of the primary drivers of the recovery was an increase in broadcast rights revenue, which now accounts for 54% of CSA’s total income. Additionally, the 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.
Anticipated Profits for 2024-25 Fiscal Year
CSA’s financial outlook for the 2024-25 fiscal year remains positive, thanks in large part to another series against India. In November 2024, South Africa will host India for four T20Is, with each match expected to generate over R150 million (US$ 8.38 million). This further highlights India’s financial importance to CSA and global cricket.
Though CSA is working to reduce its reliance on Indian tours for financial stability, the partnership between SA20 franchises and IPL teams has ensured that Indian cricket remains a key contributor to South African cricket’s financial health.
Investment in Women’s Cricket and Domestic Structure
One of the most significant developments in South African cricket has been the increased investment in the women’s game. CSA spent R32 million (US$ 1.78 million) on women’s cricket in the last fiscal year, which has seen the professionalization of domestic women’s teams.
However, CSA’s biggest expenditure remains the running of professional cricket at the domestic level. The cost of operating the eight Division 1 men’s teams, seven Division 2 men’s teams, and six women’s provincial teams came to R633 million (US$ 35.3 million). In contrast, the national teams’ expenses totaled R172.8 million (US$ 9.66 million), a quarter of the domestic cricket expenses.
National Team Successes and Grassroots Development
The fiscal year also saw notable successes for South Africa’s national teams. The men’s team reached the semi-final of the 2023 ODI World Cup, while the women’s team secured historic victories against Australia in both an ODI and a T20I.
At the grassroots level, CSA’s KFC mini-cricket program continues to flourish, with a 20% increase in participation. Over 100,000 children from more than 2000 schools took part in the program, with a progression rate of 15% to provincial and national teams.
Shubman Gill Gears Up for Bangladesh Test Series with Intense Training Regimen
Leadership Transition at CSA
The annual general meeting also marked the end of Lawson Naidoo’s tenure as CSA chair. A new chair will be elected at a special general meeting later in the month, with the candidate expected to come from among the independent directors, not provincial union presidents.
With these positive developments, CSA is poised for sustained financial growth, with hopes of building on the successes of the 2023-24 fiscal year and continuing to strengthen both the men’s and women’s game in the country.
Stay updated with all the cricketing action, follow Cricadium on WhatsApp, Facebook, Twitter, Telegram, and Instagram
