Cape Town - For the first time in the history of South African football the Premier Soccer League (PSL) on Thursday declared a record R1 billion in revenue for the 2018/2019 financial year.
At its annual general meeting (AGM) in Kempton Park, PSL chairperson Irvin Khoza confirmed that the PSL's revenue had surpassed the R1 billion mark.
Most of the organisation's funds are generated from its seven official sponsors and broadcast partners: SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica.
GladAfrica recently agreed a five-year deal to sponsor SA football's second tier - the now-called GladAfrica Championship that has lifted the final figures above R1 billion.
The PSL announced revenues increased by 7% to a record R1, 005 billion, an improvement on last year's R938 million and the R884 million declared for the 2016/2017 financial year.
The increase in revenue is driven by the contractual increase in the broadcast rights agreement and inflationary increase of sponsorship revenue.
Khoza said: "The PSL cannot be bystanders while the country is going through some difficult times. Today, I appealed to my members to think on how we can all play our role and make a contribution.
"The recession in our country has unfortunately deepened and our economy seems destined for a new normal. In over two decades, two generations of South African citizens that do not have skin in the economic game have emerged.
"External marketing budgets are the first to be cut in recession. Sponsorship renewals are therefore going to be under pressure. It is under these times that the indispensability of our value proposition to that of our sponsors needs to be understood and appreciated.
"Our content appeal and following by the NSL audience is the indispensable link that the sponsors and advertisers are after in their association with our brands."
The PSL also invited Bundesliga International CEO, Robert Klein to present to the 32 members on a possible partnership between Bundesliga and PSL.
Compiled by Baden Gillion