The Premier Soccer League (PSL) on Thursday declared over R1 billion in revenue in the last financial year (2018/19).
This is the first time in the history of the league that it declares R1 billion in revenue.
The increase in revenue is driven by the contractual increase in the broadcast rights agreement and inflationary increase of sponsorship revenue.
PSL chairman Dr Irvin Khoza revealed the news during a meeting of the League’s Board of Governors in Kempton Park on Thursday.
“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,” said Khoza.
“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.”
Meanwhile, the PSL has invited Bundesliga International CEO Robert Klein to present to the 32 members on a possible partnership between Bundesliga and the League.