There is R815 Million Profit for 2023-24 Fiscal Year

Hosting India Across All Formats and a Successful SA20 Boosts CSA Revenue

Cricket South Africa (CSA https:cricket.co.za) has revealed a profit of R815 million (US$ 45.6 million) for the 2023-24 fiscal year, driven by the successful hosting of India for two Tests, three ODIs, and three T20Is during the December-January period, along with a highly profitable SA20 tournament. As the primary shareholder of the T20 league, CSA enjoyed a profit of R54 million (US$ 3.02 million) from the event, which experienced notable growth.

This financial success comes as a stark contrast to the losses recorded over the previous three years—2020-21, 2021-22, and 2022-23—which aggregated to R538 million (US$ 30.14 million). The recovery was largely fuelled by a surge in revenue from broadcasting rights, which accounted for 54% of CSA’s overall income.

Additionally, CSA benefited from hosting the 2024 Under-19 Men's World Cup, and relocated from Sri Lanka to South Africa, generating another R54 million (US$ 3.02 million). Total ICC disbursements for this period reached R566 million (US$ 31.63 million), compared to R290 million (US$ 16.2 million) the previous year.

Looking ahead, CSA anticipates another robust financial year in 2024-2025, primarily due to the upcoming four T20I matches against India in November, projected to generate over R150 million (US$ 8.38 million) per game. These figures highlight India's financial significance and the incentive for other nations to host them frequently. While CSA is gradually reducing its dependency on the Indian cricket team, aided by the revenue from SA20, it is important to note that all six franchises are affiliates of the IPL.

The women’s cricket sector has been the biggest beneficiary of CSA's financial recovery, which saw the professionalisation of domestic women's leagues in the previous season. CSA has invested R32 million (US$ 1.78 million) in women's cricket, while costs for managing professional cricket—including eight Division 1, seven Division 2 men's teams, and six provincial women's teams—remains CSA's largest expense, totalling R633 million (US$ 35.3 million). National team expenses alone amounted to R172.8 million (US$ 9.66 million), nearly a quarter of overall domestic costs.

Across the board, CSA reported a solid performance, with the men's national team reaching the semi-finals of the 2023 ODI World Cup while the women achieved historic victories against Australia in both the ODI and T20 formats. Grassroots initiatives like the KFC Mini-Cricket program, which targets children ages six to twelve, have seen a 20% rise in participation, engaging over 100,000 children from more than 2,000 schools, with a 15% transition rate to provincial and national teams.

The CSA's Annual General Meeting also marked the conclusion of Lawson Naidoo's three-year term as chair. A new chair will be elected at a special general meeting this month, with candidates being drawn from the board's independent directors, excluding provincial union presidents.