The Premier Soccer League (PSL) through their chairman Irvin Khoza for the first time in their history declared a record R1 billion revenue for the 2018/2019 financial year at a Board of Governors meeting in Johannesburg.
Irvin Khoza confirmed that the PSL’s revenue for the 2018-19 financial year was R1.05-billion which is a 7% increase from the R938-million posted by the PSL in 2017-18 financial year‚ and R884-million in 2016-17.
The increase in revenue was mainly driven by the contractual increase in the broadcast rights agreement and inflationary increase of sponsorship revenue.
“Mainly it was renewal of our broadcast income‚ because that makes a high percentage of our income stream‚” Khoza said.
Then also most of the organisation’s funds are generated from its seven official sponsors and broadcast partners: SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica.
Khoza further said in the wake of this new financial mark the PSL will be increasing the clubs’ monthly grants from next season from the current R1.5-million‚ though he could not specify by how much.
“We’ve now reached the R1-billion mark in our income‚ which is a record. And that augurs well for the clubs in the new season‚ who are going to have an increase on the grants. ” Khoza said.
By Gerald Dandah