Cape Town - South African Football Association (SAFA) president Danny Jordaan briefed Parliament's sports portfolio committee on Tuesday on the federation's financial turnaround strategy.
"It was a very productive exercise and the House was quite happy with our presentation.
"In most cases criticism from certain quarters came as a result of lack of information," Jordaan said in a statement.
He informed the committee that SAFA had moved from the red to a projected considerable profit in the next financial year.
He gave details of the new broadcast partner Siyaya TV and explained the opportunities in the broadcast environment SAFA wanted to tap into.
SAFA earlier in the month confirmed a R1 billion deal with Siyaya TV to show all national team games live.
It was reported that SAFA would be paid R175 million per year during the six-year contract with Siyaya TV.
"When the current contract with SABC ends, the deal with Siyaya will begin.
"The SABC contract ends at the end of April 2015," SAFA spokesman Dominic Chimhavi said recently.
At the parliamentary briefing, the future of Bafana Bafana under new coach Shakes Mashaba was outlined.
Parliament wished Mashaba the best of luck in his new job, Jordaan said.