City have been left with expenses they can’t cover after sponsors pull out
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Cape Town City are feeling the negative impact of the Covid-19 pandemic as they have not received any revenue during this time from their main sponsor SportsPesa.
City chairman John Comitis said: “Listen, it hasn’t been easy. A couple of our sponsors have already pulled out, leaving us with expenses that we can’t cover. We had to work with our players and staff to get through this period. Thank God the PSL still continues to pay grants, otherwise we will be in serious trouble.
“SportsPesa have not yet indicated whether they will remain with us next season. During this Covid-19 period, they did not make any of their payments. We will have to consult with them at the end of every month.
“They have not been operational for some time now. You can understand their situation. We are working closely with them. We have a great relationship. Hopefully we will get through it.”
The local season is set to finish in a 'bio bubble', although it is not yet clear when that will be. But Comitis hopes it will be soon.
“In April we were supposed to play Orlando Pirates and Mamelodi Sundowns at home. That’s a couple of million rand out of our budget as well. But despite all this, we still have to make payments at the end of the month.”
The City boss again underlined the importance of broadcast rights.
“The only source of revenue we have now is the broadcast rights,” Comitis said.
“But we need to be broadcasting to have those rights paid. That’s why we are all eager to get back and start playing. Otherwise, we are in trouble. Already we’ve had to retrench a couple of players and staff members, especially the whole youth department which is inactive. Times are tough.”