The PSL announces R1 billion in revenue for the first time in the history of the league
The Premier Soccer League were able to post a revenue of R1-billion for the first time at a Board of Governors meeting in Johannesburg‚ PSL chairman Irvin Khoza announced afterwards.
Khoza said the record revenue value of the league for the 2018-19 financial year was R1.05-billion.
This is an increase from the R938-million posted by the PSL in 2017-18 financial year‚ and R884-million in 2016-17.
Khoza said in the wake of this new financial mark the PSL will be increasing the clubs’ monthly grants from next season from the current R1.5-million‚ though could not specify by how much.
“We’ve now reached the R1-billion mark in our income‚ which is a record‚” Khoza said.
“And that augurs well for the clubs in the new season‚ who are going to have an increase on the grants.”
Khoza said said the monthly grant increase will include PSL and GladAfrica Championship (First Division) clubs.
He was asked how the PSL’s increase in revenue has arrived.
“Mainly it was renewal of our broadcast income‚ because that makes a high percentage of our income stream‚” Khoza said.
The PSL in the past year added the GladAfrica sponsorship‚ the first deal for financial coverage of the First Division in 12 years from 2007.
The Multichoice Diski Challenge reserve league has also grown in stature.