South Africa’s Premier Soccer League (PSL) has announced a profit of R18million ($3million) for the past season, turning around an R48million ($8million) deficit for last year.
It has enabled the league to increase grants to clubs by 20 per cent, from R52million ($9million) to R62million ($10.5million) on the previous season.
The League said the finances were now on a sound footing and had regained the confidence of sponsors.
The League is to renegotiate TV contracts and look into the possibility of a TV channel specifically for PSL matches.
As the league is a non-profit organisation, more money for the league means more money for the clubs.
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