Irvin Khoza, chairman of the PSL. Picture: GALLO IMAGES/SYDNEY SESHIBEDI
Irvin Khoza, chairman of the PSL. Picture: GALLO IMAGES/SYDNEY SESHIBEDI

The Premier Soccer League (PSL) was able to post revenue of R1bn for the first time, PSL chair Irvin Khoza announced at a board of governors meeting in Johannesburg.

Khoza said the revenue of the league for the 2018/2019 financial year was R1.05bn. This is an increase from the R938m posted by the PSL in the 2017/2018 financial year‚ and R884m in 2016/2017.

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 R1.5m‚ though he could not specify by how much. Khoza said the monthly grant increase will include PSL and GladAfrica Championship (First Division) clubs.

He was asked how the PSL’s increase in revenue had been achieved.

“Mainly it was renewal of our broadcast income‚ because that makes up 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.