PSL set to rake in first billion in revenue
The Premier Soccer League's (PSL's) cup has runneth over as the football body is set to announce record revenues that for the first time have eclipsed the R1bn mark.
While many organisations are experiencing tough economic conditions, the PSL is at its strongest ever position.
At its annual general meeting (AGM) in Kempton Park today, chairman Irvin Khoza - we understand - will confirm their solid balance sheet.
Most of the league's revenue is generated from their numerous lucrative sponsorship deals. The league has seven official sponsors and broadcast partners, namely SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica.
The most recent endorsement deal of five years with GladAfrica to sponsor the second division has catapulted revenues well over the billion rand benchmark.
PSL chief operating officer Professor Ronnie Schloss was coy about confirming the figures, but admitted that the league was doing well.
"The PSL is running three strong leagues: the Absa Premiership, GladAfrica Championship and MultiChoice Diski Challenge, and the impact in the long-term will be visible," Schloss told Sowetan.
"The PSL took the bull by the horns in developing the MDC and ensuring that the second division has a sponsor. Football is dependent on sponsorship, it would be impossible without it."
At last year's AGM, the football body announced a revenue of R938m. For the previous 2016/17 financial year, revenues stood at R884m. For more than a decade the PSL struggled to find a sponsor for the lower tier, previously known as the National First Division (NFD). That ended when the engineering and consulting firm came on board four months ago.
"It's been a fantastic stimulation to football in South Africa. The GladAfrica sponsorship has been a very positive move which will raise the standard of the game going forward," Schloss said.
"A lot of the games are now televised and the standard of play in the league has improved. The league is attracting good players due to the improvement of the financial situation."