No funds missing from CSA's accounts, says Majola

Gerald Majola has been at the centre of the IPL bonus scandal that has shaken South African cricket Getty Images

Johannesburg: Aug 2, 2011

Gerald Majola, the man at the centre of a bonus scandal that has shaken South African cricket, put his own spin on the story Monday after an audit found no funds missing from Cricket South Africa coffers.

“There are no funds missing from CSA’s accounts,” Majola, the organisation’s chief executive, said in a statement.

“The annual financial statements that were approved by the board of directors on Saturday have been given a clean audit without qualification. They reveal both record income and a record bottom line.”

CSA’s board voted Saturday to accept the recommendations of an independent audit by accounting firm KPMG, which found no evidence that 68 million rand ($10 million, seven million euros) had gone missing from CSA coffers — as Mtutuzeli Nyoka, the president of the cricket governing body, had claimed.

But Nyoka said auditors had also urged CSA to seek legal advice on possible misconduct by Majola, who got an unofficial 1.7-million-rand bonus from the Indian Premier League (IPL) in 2009 without telling CSA.

Nyoka and Majola have been locked in a bitter feud over the undisclosed bonuses to Majola and 40 staff members since mid-2010, when Nyoka confronted his one-time friend and teammate over the issue.

The stand-off divided CSA and led to a special meeting in February at which Nyoka was voted out of office. Nyoka challenged the decision in court, where a judge in April ordered CSA to reinstate him. After returning to office, Nyoka continued his push for an independent audit of CSA’s finances.

But while KPMG’s report backed up his accusations of possible misconduct by Majola, it stopped short of endorsing his claim that funds had gone missing. Majola gave his own picture of the audit Monday, praising CSA’s “healthy” finances.

“Given the tough economic conditions that continue to prevail both in South Africa and globally, CSA is proud to have successfully concluded its best ever commercial deals, which will be announced shortly,” he said.

“This will afford us the comfort of knowing that adequate funding is in place for the foreseeable future.”