The South African Football Association reports that the association has cut down on R80 million in expenditure.
Furthermore, SAFA says it has lined up a number of initiatives as part of a turn-around strategy.
“The South African Football Association (SAFA) has lined up a number of initiatives as part of the broader and sustainable turn-around strategy. The Association has also managed to whittle down the annual expenditure by R80 million as part of austerity financial measures and cost cutting exercise,” said SAFA on its official website.
“As part of the turn-around strategy, SAFA is on the verge of concluding various sponsorships deals that will generate long term and sustainable funding. The Financial Recovery Plan follows the signing of a new contract with the SABC for our free-to-air broadcast Rights. This 4-year contract is key to our negotiations for other sponsorship deals. We have also signed a much improved deal with CAF for our 2022 and 2024 FIFA World Cup qualifiers,” SAFA further states.
“We are also still negotiating all our satellite TV rights with Supersport. We also have revenue opportunities with our Continental and Worldwide TV rights. We have now agreed to renew contract with SA Breweries for Bafana Bafana for a further 4 years. Our legal teams are now drafting the contract for signature. We have received 4 offers for the new Kit Sponsor that we have been considering and we should be concluding an agreement within the next 60 days. We are also finalising negotiations with potential sponsors for Banyana Banyana and these negotiations are at an advanced stage. We have agreed in principle with a partner for the Nelson Mandela Challenge. This will be a 3-year contract and the Challenge will be packed in a better way. We are close to renewing our agreement with Energade as the official drink supplier to the Association. We are close to signing an agreement with a potential transport supplier to SAFA. The deal consists of SAFA being provided with buses and vehicles during national team camps and matches. We have 2 corporates that have expressed a keen interest in sponsoring our Women National League. The Association will also propose a game-changing subscription fee by all of its members, which if adopted at Sunday’s (8 December 2019) Annual General Meeting and fully implemented, will raise a minimum of R300m annually,” reads the statement.
SAFA’s acting CEO, Gay Mokoena adds, “We are going full throttle to turn around our financial situation and we are confident that if all goes well and we implement all of the initiatives, we should have long term and sustainable funding going forward. All our national teams fulfilled their obligations and did exceptionally well and next year is going to be even more busier with Bafana Bafana involved in the FIFA World Cup and AFCON 2021 Cameroon qualifiers. Banyana Banyana will also be involved in the AWCON qualifiers while the U23s will be going to the Tokyo 2020 Olympics and all our junior teams will be busy as well.”