The Premier Soccer League (PSL) has announced a staggering R938 million profit for the financial year of 2017/18 and chairman Irvin Khoza believes the league is growing despite financial difficulties in the country.
Khoza announced the profit during the league's governing body's annual general meeting on Thursday in Kempton Park, east of Johannesburg.
“We have come a long way since 1985. The value of our business is built in the all-important value of sacrifice. Ours is a puny business, where those that shoulder the burden of ownership take all the risks yet receive the least of the benefit and spoils, if there are any left,” said Khoza in a statement.
Despite he country enduring tough times when it comes to high prices, the PSL boss announced a whopping revenue which went up from R884 million to R938 million, saying the game continues to develop.
“We (PSL) are today the largest Event Organiser and Content Developer in South Africa. Being the largest Event Organiser, we are most affected by the SASREA Act that seeks to regulate safety of sports and recreational events,” explained the Orlando Pirates chairman.
The 'Iron Duke' also heaped praise on member clubs who are also contributing to the South African Revenue Services (SARS) for their staff members.
“As the largest Content Developer of engaging content that gets the country talking day in and out, we are responsible for all the life blood and success of the media and telecoms,” he continued.
“You look at the remuneration being paid in the football industry. No-one can dispute the fact that players have gone from playing only for the love of the game, to now playing as a proper career where they are able to invest surplus funds. Member Clubs are making a contribution to various bodies including UIF, SARS and COIDA – these are people who play a pivotal role in our economy,” he concluded.
Moreover, Khoza said despite economic recession, the beautiful game has developed a product through the content it generates and it remains attractive and trusted by both the league sponsors, cup sponsors, partners as well as broadcast partners.
For the year, 2017/18, the PSL's revenue went up from R884 million to R938 million.#growing League#NSLAGM pic.twitter.com/HfewI8YxUu
