Cricket South Africa announces profit for first time since COVID with R815 million gains in 2023-24
Cricket South Africa has reported a profit of US$ 45.6 million for the season gone by after enduring losses in each of three prior seasons. The turn-around comes on the back of an action-packed year that included hosting India in all formats, the U-19 World Cup, and the second edition of SA20.
Cricket South Africa's strong performance owes a large part to a host of broadcasting deals for 2023/24, making up 54% of its total revenue. Across the past three seasons, the governing body had aggregated losses of R538 million (USD 30.14 million) as it struggled to recover from the hiatus forced by the COVID-19 pandemic. The revenue figures read an impressive R1.89 billion (USD 105.19) for the fiscal year as well, a staggering 170% rise from 2022/23.
The country hosted India for three T20Is, two ODIs, and as many Tests in 2023/24 that attracted big sponsorship deals and media deals. The second season of SA20 2024 also came to a successful conclusion earlier this year, contributing R54 million (USD 3.02 million) to the organization's profits. The tournament was hosted simultaneously alongside the U-19 World Cup after Sri Lanka pulled out at the lost moment due to political turmoil in the island nation. As a result, CSA received R566 million (USD 31.63 million) from the global body, nearly twice the amount from the previous season.
The impressive financial numbers were backed up by strong performances on the field as well in what was a historic season for the country. The Proteas made it to a Men's World Cup final for the first time in 2024 at the ICC World T20 in the Americas as well as put together a strong campaign in its ODI counterpart in India to make it to the semi-finals. Additionally, the women's team defeated Australia in both white-ball formats in history during this period while the U-19 stars made waves in the age-group World Cup en route to a semi-final run where they were defeated by eventual runners-up India in a thriller.
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