IPL helps South Africa's cricket board boost revenues 01/09/2009 |
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The second edtion of the Indian Premier League (IPL) has helped Cricket South Africa (CSA) perform well financially.
The board has managed a turnover of more than $11.4 million for the 2008/2009 season as a result of the event taking place there.
Media reports state that CSA had initially budgeted for a loss of nearly $10 million.
At the cricket authority's annual general meeting, CSA treasurer Hentie van Wyk said that CSA made an operating profit of nearly $1 million as a result of stronger negotiations, bigger broadcast deals, increased sponsorships and the board's successful hosting of international tournaments like the IPL.
CSA now has a cash reserve of $21 million. The cricket board expects greater revenues by the end of the 2009-10 season, mainly due to the sale of television rights.
"It is critical that all new cricket funding is able to be maintained in future years and the four-year view supports this approach. Due to international TV rights being sold, last year, for significantly larger amounts, the next four year cycle will show an increasing revenue trend," says Van Wyk.
Information available with Indiantelevision.com indicates that the IPL probably added a couple of million dollars in revenue. The international TV rights will go up this year because they have a big payment due from Sky Sports in the UK for the South Africa versus England series starting from November.
TV revenue is estimated to be about half of CSA's total revenue as they have a good sponsorship deal with Standard Bank and also good gate income/executive box income at their venues.
(Source: Indiantelvision.com)
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