CSA acting chief financial officer Ziyanda Nkuta insists that CSA are not in a financial crisis.
Earlier this week, Cricket South Africa confirmed that the franchise system will be replaced by provincial competition next year.
The Lions, Cape Cobras, Knights, Dolphins, Warriors and Titans will effectively be replaced by Gauteng, Western Province, Free State, KwaZulu-Natal, Border, Northerns and others.
The idea behind the decision seemed to be driven by finances, with CSA cricket manager Corrie Van Zyl stating: ‘Obviously, with us collapsing the franchise system into the senior provincial cricket system, you will have lesser competition costs.’
Follow-up reports and opinions about the decision were mixed. This led to assumptions that the decision to collapse the franchise system may be directly related to ‘CSA’s financial troubles.’
The South African Cricketers’ Association’s uncertainty about the decision added to the speculation, especially when SACA CEO Tony Irish expressed his concerns.
Irish was unconvinced that CSA’s predicted loss over the next four years will not decrease from R654-million to around R200-million, as stated by the organisation.
‘We need to feel comfortable that the finances and predictions are correct. That will determine how we respond to the proposed changes,’ said Irish to Sport24.
Despite this, Nkuta dismissed all suggestions that CSA is financially unstable.
‘It’s been incorrectly reported in the media that CSA is in a financial crisis,’ she told Sport24.
‘That’s incorrect. CSA is financially stable. What has happened is that we forecast on a four-year cycle from one year to another in terms of what we see in revenues, and we are acting as a responsible business.
‘We’ve got healthy cash reserves and healthy investments which are still performing well … we’re just trying to make sure that cricket stays sustainable.’
Last weekend, CSA CEO Thabang Moroe also gave some insight into CSA’s commercial model.
‘Franchise cricket has been a huge burden to CSA’s coffers. We are pinning most of our work and commercial strategy on the Mzansi Super League to be the programme that is actually going to fund domestic cricket.’
Photo: Lefty Shivambu/Gallo Images