Premier Soccer League harvests R1 billion in revenue, breaks new ground
JOBURG – The Premier Soccer League rakes in 1 Billion in revenue in the past financial year 2018/19.
The Premier Soccer League (PSL) said it had broken new ground with the announcement that it had posted a record R1 billion in revenue in the past financial year (2018/19).
Speaking at the PSL’s annual general meeting, chairperson Dr Irvin ‘Iron Duke’ Khoza said, “In these difficult economic conditions in both the global and South African environment, impressive revenue growth and stable financial performance once again reaffirms the strength of the league and the confidence of the corporate world in professional football in South Africa.”
Khoza revealed that revenues have increased by 7 per cent to a record R1.005 billion, saying the increases in revenue were driven by the contractual increases in the broadcast rights agreement and increases of sponsorship revenue.
This was confirmed by the league’s auditors, Price Waterhouse Coopers in an unqualified audit report tabled at the meeting.
“The PSL cannot be bystanders while the country is going through some difficult times,” added Khoza. “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. 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 PSL audience is the indispensable link that the sponsors and advertisers are after in their association with our brands,” concluded Khoza who is also the chairperson of Orlando Pirates FC, one of the 16 teams in the league’s Absa Premiership.
Khoza mentioned that the PSL had invited Bundesliga International CEO, Robert Klein, to present to its 32 members on a possible partnership between the Bundesliga and the Parktown-based PSL.
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