“This revenue loss was mitigated to a certain extent by committed cost reductions through all business areas, resulting in a reported loss of R198m.
“The main expense items related to professional cricket at R539m (2020/21: R358m) and amateur cricket at R234m (2020/21: R229m),” he said.
“The increased spending on professional cricket is related to the new domestic structure implemented during the year. For amateur cricket, several programmes resumed after they had to be cancelled in the prior year due to the pandemic.”
Van der Walt said despite the loss, the company has sufficient reserves to meet its obligations for the near future.
“As CSA’s revenue model is cash-based with a largely fixed cost base, it is important to have sustainable cash reserves to continue funding operational commitments. The cash position at the end of the year reflected a balance of R272m (2020/21: R121m), with the operational losses for the year being funded by the utilisation of investments.”
Meanwhile, TimesLIVE can confirm that about 25 bookies were banned during the recent CSA T20 Challenge in Potchefstroom last month.
CSA's anti-corruption officer Louis Cole said the bookies were from Australia, England, Pakistan, Bangladesh, India and SA.
“We were just acting according to cricketing rules which prohibit live betting at games or communicating any data outside the stadium,” Cole said.
“Some of them bet for their own purposes and some provide live commentary on the game to bookmakers overseas who then bat on the information.”
CSA declares R198m loss for 2021/2022 financial year
Image: Sydney Mahlangu/BackpagePix
Cricket SA (CSA) have declared a R198m loss for the 2021/2022 financial year.
This was confirmed by the federation at its AGM held at the Irene Country Club in Centurion on Saturday.
It reported a R221m loss for the previous year.
CSA CFO Tjaart van der Walt said factors such as Covid-19 and increased spending on South Africa’s revamped domestic structure, which CEO Pholetsi Moseki described as a resounding success, played a big role in the loss.
“The curtailment of the planned four T20 matches against India due to the Covid-19 pandemic severely impacted CSA’s results, with a negative R250m impact on revenue,” Van der Walt said in his report.
“This revenue loss was mitigated to a certain extent by committed cost reductions through all business areas, resulting in a reported loss of R198m.
“The main expense items related to professional cricket at R539m (2020/21: R358m) and amateur cricket at R234m (2020/21: R229m),” he said.
“The increased spending on professional cricket is related to the new domestic structure implemented during the year. For amateur cricket, several programmes resumed after they had to be cancelled in the prior year due to the pandemic.”
Van der Walt said despite the loss, the company has sufficient reserves to meet its obligations for the near future.
“As CSA’s revenue model is cash-based with a largely fixed cost base, it is important to have sustainable cash reserves to continue funding operational commitments. The cash position at the end of the year reflected a balance of R272m (2020/21: R121m), with the operational losses for the year being funded by the utilisation of investments.”
Meanwhile, TimesLIVE can confirm that about 25 bookies were banned during the recent CSA T20 Challenge in Potchefstroom last month.
CSA's anti-corruption officer Louis Cole said the bookies were from Australia, England, Pakistan, Bangladesh, India and SA.
“We were just acting according to cricketing rules which prohibit live betting at games or communicating any data outside the stadium,” Cole said.
“Some of them bet for their own purposes and some provide live commentary on the game to bookmakers overseas who then bat on the information.”
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Related articles
Latest Videos