Cricket South Africa President Chris Nenzani speaks at the inaugural player draft of the T20 Global League
Cricket South Africa (CSA) and the South African Cricketers’ Association (SACA) have agreed on a 60% payout deal for South African players and a 50% payment to foreign players following the postponement of the T20 Global League. The tournament was due to take place in November-December this year after CSA, who had not sewn up a broadcaster, anticipated losses of US$ 25million – amounting to half its cash reserves. Still, the organisation is bracing for a massive cash outflow.
The total player bill, which included signed contracts with 144 players, amounted to US $10.8 million. While CSA has been spared sacrificing the full amount, the agreed figures will still cost them several million though the exact amount has been adjusted to accommodate for foreign players who signed on with other leagues, such as the BPL, those whose NOCs contained limitations on the amount of time they were able to play in the T20 Global League and those who did not receive NOCs.
Though CSA has cash reserves of over R500 million (approx US$ 37million), the T20 Global League has depleted them severely. CSA has already spent R350 million in stadium upgrades over three years and had designated another R100 million to the organisation and marketing of the GLT20.
More to follow…
Source: ESPN Crickinfo