With the cash-flush Premier Soccer League (PSL) having recorded revenue of more than R1bn, member clubs are set to benefit in a major way from the financial windfall.

As Sowetan revealed yesterday, the money-spinning PSL declared its best income for a single financial year (R1.005bn to be exact). This is largely thanks to lucrative sponsorships deals with the likes of SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica.

The PSL had year-on-year revenue growth of 7% from the previous year, where the figure stood at R938m.

Chairman Irvin Khoza was undeniably chuffed with the performance of the organisation and confirmed that member clubs would benefit.

"We have now reached the R1bn mark in our income and that augurs well for the clubs next season, [and] which will increase the grants," Khoza said at the annual general meeting held at Emperors Palace yesterday.

"The financials were adopted and unqualified and we are on a sound footing in terms of the governance of the league. The [results are due to the] renewal of our broadcast income [deals] because that makes a high percentage of our income stream as a league. [It] played a big factor."

Currently, Absa Premiership clubs receive a monthly grant of R2.5m while clubs in the GladAfrica Championship collect R500,000 per month.

Khoza confirmed that clubs in both the Premiership and GladAfrica Championship will score from an increase in grants.

"A profit was declared but what we do is that most of the money goes back to the clubs," he said.

With the organisation in its best financial position, Khoza revealed that a number of initiatives would be undertaken to further enhance the quality of the league.

"We are on par [with the best leagues in the world] on a number of things. The most important thing is to fine-tune our pipeline and talent," he said.

"There are things we need to streamline in terms of how to segment scouting of the players and develop them and monitor that intake of players. This is because some of them get lost in the system."