As Sowetan revealed yesterday, the money-spinning PSL declared its best income for a single financial year . This is largely thanks to lucrative sponsorships deals with the likes of SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica.
The PSL had year-on-year revenue growth of 7% from the previous year, where the figure stood at R938m. Chairman Irvin Khoza was undeniably chuffed with the performance of the organisation and confirmed that member clubs would benefit. "We have now reached the R1bn mark in our income and that augurs well for the clubs next season, [and] which will increase the grants," Khoza said at the annual general meeting held at Emperors Palace yesterday.
"The financials were adopted and unqualified and we are on a sound footing in terms of the governance of the league. The [results are due to the] renewal of our broadcast income [deals] because that makes a high percentage of our income stream as a league. [It] played a big factor."
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