South African FA struggling financially – report 27/01/2010 |
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The South African Football Association (SAFA) is millions of rand in the red, it has been claimed.
The Mail&Guardian; newspaper in South Africa says it has had access to SAFA's bank accounts which allegedly show a negative balance of more than R7.4m. The paper reported that other SAFA documents show that it also owes suppliers another R7m.
A senior SAFA official, who was not named in the report, suggested the situation was even worse than that.
"We are close to R10m in the red, excluding what we need to pay our suppliers," he said.
"It's becoming increasingly difficult to run the sport smoothly in the country. The majority of our regions have not received their grants, which has paralysed the game in these affected areas."
But former SAFA chief executive Raymond Hack told the paper that allegations of financial problems were "absolute nonsense".
"The SABC [South African Broadcasting Corporation] alone owes SAFA almost R27m," said Hack, who left his position earlier in January.
"Even if we had a worst-case scenario of owing the bank R3m, which I doubt very much, SAFA's books would still indicate a healthy balance of R24m.
"I am reliably informed that the SABC will pay this week which should sort out any financial problems," continued Hack, who reported a R32m profit for SAFA last September.
SAFA's vice-president for finance Mandla Mazibuko confirmed to the Mail&Guardian; that SAFA's accounts showed a deficit but would not give any figure.
"It's really too early for me to comment because I'm still going through the books," added Mazibuko.
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