South Africa’s Premier Soccer League have today confirmed breaking beyond R1 million in their business returns.
The PSL released a press brief to share the news following an annual sit down. The league patted itself on the shoulder for achieving the financial leap in ‘a difficult economic climate.’
“The Premier Soccer League (PSL) today broke new grounds at its annual general meeting (AGM) when it declared over R1 billion in revenue in the last financial year (2018/19),” the PSL wrote.
"This is the first time in the history of the League that it declares R1 billion in revenue.”
"In these difficult economic conditions in both 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.”
PSL further revealed that the growth has come about through improved TV rights and sponsorship contracts.
"Revenues have increased by 7% to a record R1, 005 billion. The increase in revenue is driven by the contractual increase in the broadcast rights agreement and inflationary increase of sponsorship revenue.”
"As confirmed by the League’s auditors, PWC, the PSL received an unqualified audit report.
"The PSL Chairman Dr Irvin Khoza toasted the League’s record breaking history moment together with other members of the Board of Governors of the PSL,” concluded the statement.
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