CSA reports record profits

2011-08-20 12:31
Gerald Majola (File)
Port Elizabeth - Cricket South Africa (CSA) on Saturday celebrated 20 years of cricket unity in South Africa by reporting stellar financial results for the 2010/11 year.

The annual meeting was chaired by vice-president AK Khan in the absence of president Mtutuzeli Nyoka, who was not able to travel to Port Elizabeth for personal reasons.

CSA reported a profit before tax of R247.8 million compared to the R138.8 million for the previous financial year. The final after tax profit amounted to R295.6 million.

No elections were necessary as the current office bearers will serve until the next Annual Meeting in August, 2012.

Khan paid tribute to CEO Gerald Majola for the performance of the administration in putting together such a strong financial year and congratulated him on the standing in which he was held in world cricket.

The annual meeting was followed by a meeting of the Board of Directors and they took the following decisions:

They deliberated the Legal Opinion of Advocate Azhar Bham and unanimously decided to put various mechanisms in place to improve Corporate Governance and review the process for awarding bonuses.

“As far as CSA is concerned this matter is now closed,” commented Khan.

The Board accepted a recommendation from the Cricket Committee to revert to a 50 overs domestic limited overs competition to bring it into line with its international counterpart. “The conditions will be identical to those for ODIS to prepare our players better for international competition,” commented Majola. “That should help us to win that elusive ICC limited overs trophy.”

Vinnie Barnes, coach at the High Performance Centre, has been added to the national selection committee as a fifth member to enable the selectors to cover adequately all franchise matches. The committee now consists of: Andrew Hudson (convener), Gary Kirsten, Corrie van Zyl, Vinnie Barnes and Shafiek Abrahams.

The Board has also decided to create a specific transformation financial fund to give an added impetus to CSA’s initiatives in this important area.



Read News24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

Love 2 Meet

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs

Australia won their fifth Cricket World Cup over the weekend. Does it leave a bitter taste in your mouth that the Proteas didn't get to play them?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

There are new stories on the homepage. Click here to see them.