The SA Football Association (Safa) will report a R5-million deficit when it conducts its long-awaited ordinary congress this weekend, painting a picture of an organisation in dire financial straits.
According to the report, prepared by Safa financial committee chairperson Mxolisi Sibam, the main reasons for the challenging financial position are high bonuses paid to national teams and spiralling staff costs due to enormous salaries. As a result, Safa’s “liquidity remains tight” and this could lead to “potential solvency risks”
“The largest expenditure item was the R150m (or 40% of revenue) paid in performance bonuses to players and technical staff,” reads Sibam’s report for the financial year ending June 2024.
However, Safa received R160m from CAF and Fifa as participation fees for Bafana Bafana and Banyana Banyana in the Afcon and Women’s World Cup, respectively, taking its turnover to R386m, which was an increase from R239m in 2023.
Sibam’s report further claims Safa pays high salaries to its staff but curiously remains silent on the bloated national executive committee, which Fifa recommended more than a decade ago it must be trimmed “It is also important to note that salaries and remuneration within the association remain relatively high when benchmarked against other comparable national football associations. The finance committee has identified this as an area requiring review to ensure sustainability and efficiency,” reads the report.
Safa will report a 17% increase in assets to R193m, but Sibam states that liabilities remain a problem. “Total liabilities rose to R207m from R172m in 2023, while current liabilities increased to R197m.”
Saturday’s congress comes two weeks after Safa’s leadership was grilled in parliament over allegations of misgovernance. At the weekend, former Bafana Bafana skipper Lucas Radebe said Danny Jordaan should not consider serving another term as the association’s president. “He shouldn’t even be there at this stage, it’s long overdue that he leaves,” the former Leeds United skipper told Sowetan.
“He should give others a chance. I followed the conversation [in parliament] and it seems they [Safa] want to reason [that] they don’t see anyone who can succeed him. It’s all politics.”
Radebe added that while SA was seeing great performances from national teams, such as the Under-20s who recently lifted the junior African Cup of Nations for the first time, that energy was not matched by delivery in Safa’s administration under Jordaan’s leadership. “We are performing on the field but are lacking in the office. We know exactly where change is needed,” he said.