Haroon Lorgat © Getty Images
Some media reports are patently false to suggest that Cricket South Africa incurred a loss said Haroon Lorgat, the Chief Executive Officer of CSA © Getty Images

 

Sep 13, 2014

Cricket South Africa (CSA) today confirmed a net profit of R199 Million rand for the past financial year. This profit was announced at CSA’s Annual General Meeting in Johannesburg on Saturday. “We are extremely satisfied with the results especially in the light of the unfortunate curtailment of the Indian Tour,” commented CSA President Chris Nenzani.

“Regrettably some media reports are patently false to suggest that CSA incurred a loss when we only fell short of our targeted profit by a mere Rand 18 Million,” said CSA chief executive, Haroon Lorgat. A report on the progress of implementing the new Operating Model was presented to the CSA Board and Members Council. Funding allocations, which is now based on actual activities which are measured and monitored, has resulted in an increase of 20% in grants to Affiliates and Associates.

Also based on a presentation from the chief executive, the Board expressed full confidence in the Proteas team management and unanimously approved an extension to the contract of Russell Domingo, the Proteas Head Coach. Domingo’s initial two year contract would have expired at the end of April 2015, but the Board was comfortable to extend his appointment to April 2016.