Cricket South Africa (CSA) reported substantial profits of R815 million for the 2023-2024 financial year, as detailed in its latest integrated report.
CSA’s total revenue for this period reached R1.89 billion, a significant increase from the R700 million recorded in the previous year. Over the past two years, South Africa had not reported any profits, instead accumulating a cumulative loss of R317 million.
According to the report, CSA earned R1 billion from selling broadcast rights, largely due to India‘s all-format tour of South Africa in December and January.
The presence of India is crucial for any global cricket federation’s financial health. Each match contributed approximately R150 million to CSA’s revenue, highlighting the substantial boost from hosting India. Consequently, CSA prioritizes scheduling more white-ball matches, which are shorter and more profitable, compared to Test matches. For example, three white-ball games can be played in four days, similar to India’s T20I series in December, whereas a Test match spans up to five days, with CSA earning significantly more from the T20I series.
“In the four-year cycle there will be two or three years where we make quite massive losses,” CSA Chief Executive Officer Pholetsi Moseki said.
“But there should be at least one year where we make significant profit so it can cover us in the years where we make those losses.”
And those profit-filled years are when India tours. Luckily for CSA, India will tour the country for four T20Is in November, a welcome but rare double appearance in CSA’s four-year cycle.
“Having another India tour is going to be extremely positive because normally we have one all-format India tour in a cycle,” Moseki added.
“We’ve been fortunate to host them twice in this cycle.”
According to Moseki, it’s unrealistic to expect CSA to be financially viable without incoming tours from India, despite the growth of the India-backed SA20 league— which generated R54 million last season— and other income sources, including the R566 million paid out by the International Cricket Council (ICC) over the past season.
“India is too important in the cricket ecosystem for all members, including the ICC itself,” the CEO said. “India will continue being an important touring team for all countries. To try to divorce yourself from India is not realistic for any country.
“Even the big two in Australia and England, it’s not possible (for them).”
However, CSA is striving to reduce its reliance on this dependency. The sponsorship revenue for CSA in 2023-2024 rose to R119 million from R52 million the previous year.
CSA also earned R54 million by hosting the Under-19 Cricket World Cup, which was initially set to take place in Sri Lanka.
“What you do want is to diversify your revenue, and that’s really what we’re trying to do,” Moseki said. “The SA20, when we launched it, was one of the key initiatives that will assist us to diversify our revenue by getting more sponsorship, for example.
“There are a number of initiatives that we’re working on because what we don’t want is, when India doesn’t tour, to make the losses we’ve incurred.”
“The SA20 has been assisting us, but we need a few more initiatives.”
Consistently high profit margins make it more feasible to increase the number of Test matches played in the country, which CSA is targeting in its planning for the next Future Tours Programme (FTP), starting in 2027.
“It will be a target for the next FTP, but the reality is I don’t think we’ll be playing a three-match Test series against all nations,” Moseki said.
“It just won’t be like that, but there are some nations where we hope to play even more than three Tests.
“But there will definitely be more nations that we play three-match Test series against, unlike currently where it’s only England and Australia.”
On the boardroom front, CSA chairperson Lawson Naidoo has completed his three-year term.
His successor will be elected at a meeting in November, as noted by Moseki.
“I feel a deep sense of pride and optimism for the future of cricket in South Africa,” Naidoo said.
“We are in a much healthier space than we were just a few short years ago. Credit must also be accorded to the players and team management, as well as the CEO and his staff at CSA.”
Rihan Richards was re-elected as president, and Dr. Mohammed Moosajee, the experienced national team doctor, has been elected as CSA vice-president.
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