Johannesburg - The South African Football Association has reported that they are “on a sound financial footing” after receiving multiple financial backing from various entities, such as their sponsors and the football governing body FIFA, over the years.
“We have long-term sponsorship contracts with most of our partners. The average term of our contracts is 4 years and these contracts are renewable,” the association said in an official statement that was released on Wednesday morning.
SAFA’s long-term relationships include with companies such as the South African Breweries, Sasol and South African Broadcasting Corporation. These sponsors are responsible for backing Bafana Bafana, Banyana Banyana or both teams.
With SAFA a member of the governing body, the association benefits “through a programme known as the FIFA Forward. The funding is structured around a four year cycle. Therefore, funding is guaranteed each year for each cycle” as well.
SAFA owns properties that are of high value as well. The SAFA House, which is based in Nasrec, is worth R100 Million. SAFA's National Technical Centre (FunValley) which is mostly used by the women’s teams is worth R100 Million as well.
SAFA also ensures that regular payments are being processed to the SAFA regions. In the last three years, they forked out R53, 2 Million to the regions, including the Covid-19 grant which was paid from the 2010 World Cup Legacy Trust.
However, the SAFA will have to do without the Legacy Trust (“the trust'') going forward after it closed its affairs from February 28 since it started running from 2013. Over the nine-year period, SAFA directectly received R430 Million from the Trust.
That money was used for various projects, such as the launch of the National Women’s League (now known as the Holywoodbets Super League). SAFA said they are indebted and grateful to the Trust for their generous funding over the years.