JOHANNESBURG, SOUTH AFRICA – SEPTEMBER 02: President Chris Nenzani with Altaaf Kazi during the Cricket SA Annual General Meeting at Inter-Continental Hotel, OR Tambo International Airport on September 02, 2017 in Johannesburg, South Africa. (Photo by Lefty Shivambu/Gallo Images)
Cricket South Africa’s profits likely to be down, but lucrative tours lie ahead
CSA announced an anticipated loss of around R159 million for the 2016/17 financial year at their AGM over the weekend.
JOHANNESBURG, SOUTH AFRICA – SEPTEMBER 02: President Chris Nenzani with Altaaf Kazi during the Cricket SA Annual General Meeting at Inter-Continental Hotel, OR Tambo International Airport on September 02, 2017 in Johannesburg, South Africa. (Photo by Lefty Shivambu/Gallo Images)
Sri Lanka’s recent tour to South Africa was never expected to be a booming commercial success and it proved not to be. Cricket South Africa (CSA) president, Chris Nenzani announced an anticipated loss of around R159 million for the 2016/17 financial year. This announcement was made at CSA’s annual General meeting on Friday.
Cricket South Africa (CSA) president, Chris Nenzani announced an anticipated loss of around R159 million for the 2016/17 financial year.
This announcement was made at CSA’s annual General meeting on Friday.
India’s inbound tour looks lucrative
Nenzani, however is optimistic that the more attractive upcoming inbound tours, with India and Australia scheduled to visit these shores, should be enough to recoup this income.
CSA recorded a revenue of R696 million, considerably less than the R851 million attained in the previous financial year and Nenzani says it comes as no surprise as the inbound tours during the former were not exactly “commercially productive”.
“In commenting on the financial statements I would like to stress that CSA remains in a very healthy financial position.We have a very strong balance sheet and a favourable cash position. Our income balance after taking into account the loss for the year is R655 million.”
World number one Test side, India is expected to land in South Africa in December, despite a busy home schedule leading up to the South African summer. The dates and schedule for the tour are yet to be confirmed but it is likely that the traditional Boxing Day and New Year’s test could be compromised.
Australia’s incoming tour also a potential money spinner
Australia will be in South Africa for a Test series in March, with the first of three Tests taking place on 1 March 2018.
While the shorter formats of the game haven’t had much trouble filling up the stadiums, test cricket has struggled to draw crowds in recent years, particularly in Durban. This saw last year’s Boxing Day Test against Sri Lanka moved to Port Elizabeth.
Only Newlands in Cape Town and Centurion’s Supersport Park have consistently recorded decent crowds over the years, the former regularly drawing near capacity crowds.
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