Cricket SA will not probe collapse of T20 Global League, Chris Nenzani says
Cricket SA (CSA) has not decided to mount an independent investigation into the T20 Global League (T20GL) saga.
The inaugural edition of the tournament was to have been played in November and December‚ but the event collapsed after the board discovered it would result in $25m in losses.
The fiasco cost Haroon Lorgat his job as CSA’s CEO.
On Thursday, CSA issued a release in which president Chris Nenzani was quoted as saying‚ "A complete reconciliation of the total expenditure incurred on the T20GL has been concluded, and we can now confirm that all monies have been adequately accounted for and that we have found no irregularities or financial mismanagement.
"These reconciliations will now be examined by our external auditors‚ Nkonki‚ as part of their normal audit procedures." The release said "the board also noted that the investigations highlighted pervasive governance lapses around the T20GL".
That might be taken as a reference to the fact that the tournament foundered despite the establishment of a special T20GL subcommittee that comprised vice-president Thabang Moroe and independent directors Louis von Zeuner and Iqbal Khan.
Perhaps not‚ if a quote the release attributed to Nenzani is to be taken at face value: "The CSA control environment is what stood us in good stead to date and the same standards should be applied, even when we decide to embark on a ringfenced initiative [such] as the T20GL. "We will fix these aspects with a great sense of urgency." But‚ asked if CSA would launch an independent enquiry into the affair‚ a board spokesperson said‚ "At this stage no independent investigation." That follows CSA saying in November that it had opted for "two parallel processes" to probe what went wrong — by their internal auditors and a law firm it appointed.
"Having gone through all the reports we are convinced that we made the right decision to postpone the T20GL as we were unable to secure the required revenue streams on time and felt that‚ given the uncertainty‚ continuing with the league in 2017 would pose significant financial risks to CSA‚" Nenzani was quoted as saying.
TimesLIVE has learnt that CSA has managed to curb its T20GL losses to approximately $14.2m‚ $6.3m of which will be spent on settlements with players.
And‚ as it has cash reserves of more than $39.4m‚ they were able to headline their release: "CSA remains in healthy financial position".
It is understood that the board will decide at its meeting in the second week of February whether to forge ahead with plans to stage the T20GL in 2018. If it opts to go ahead, the plan is to swiftly secure sponsors and broadcasters.
The lack of both of those key elements was part of what sank the original attempts to launch the tournament.