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Cricket SA's acting CEO Jacques Faul: 'For now we don’t have to panic'

21 April 2020 - 14:46 By Mahlatse Mphahlele
Acting Cricket SA chief executive Jacques Faul says the federation is still in good standing financially, for now.
Acting Cricket SA chief executive Jacques Faul says the federation is still in good standing financially, for now.
Image: Sydney Mahlangu/ BackpagePix

The coronavirus outbreak has had a devastating financial effect on sport across the globe but Cricket SA insist that they are still standing in the face of ruthless pandemic.

While Cricket SA are also counting the costs of the virus like numerous other organisations around the world‚ acting CEO Jacques Faul maintains that they have not reached a stage of financial vulnerability as a result of Covid-19.

“At this stage‚ there is no indication for us and we haven’t lost income.

"Everybody’s financial position is a bit different‚ I think money available for players will be less‚ probably not in the forthcoming season but the season after‚” said Dr Faul.

“Historic rights are sold‚ that gets paid over a certain period of time. Ours were sold for eight years‚ so there is still money that flows into your account.

"If your future content doesn’t take place then your money gets cut. At this stage we are monitoring but we can’t make the decision to cut salaries when we haven’t experienced the loss yet. That will be an irresponsible thing to do at this stage.

“For now we don’t have to panic but it is not to say that it will not happen in future. It also depends on the makeup of your income streams‚ sometimes it is also a very good position to qualify for government aid.

"To give you a good example‚ if we lose out on the Indian content‚ that may trigger it but it hasn’t happened.”

The coronavirus outbreak has brought sports to its knees worldwide with players‚ coaches and officials in different sporting codes asked to take pay cuts as the pandemic continues to wreck havoc.

CSA suffered a financial blow when the limited overs tour of India was cut short in May with two ODIs remaining in Lucknow and Kolkata after the series opening match was rained out in Dharamshala.

On Monday South Africa’s limited overs tour to Sri Lanka‚ which consisted of three ODIs and three T20s in June‚ was postponed due to the pandemic and there are doubts about the tour to the West Indies in July.

Faul said hey have established a committee to plan for various post-coronavirus scenarios.

“We are starting to roll out post Covid-19 lockdown scenarios and how to deal with the financial impact‚ and we have established a scenario planning committee to look into it‚"he said.

"There are certain things we can do immediately.

"There is a low level of predictability‚ we are doing benchmarking and using the other three pillars of our planning.

"Hopefully we will have a little bit more clarity because we are not an island. Our world will be affected by the world economy where predictions are not good.

“Our funding model is based on incoming tours and the ability of our sponsors to service certain agreements.

"We hope to have more in terms of strategy in the next two weeks but we have determined certain milestones and dates where we can assess.

"We have a structured plan on certain scenarios of financial vulnerability in certain areas.”


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