The South African Sports Confederation and Olympic Committee has reported a turnover of R101m, along with a surplus of R43.9m for the year ended 31 March, 2023.
The SASCOC picture has the potential to look even rosier, with suggestions that a new major sponsor is in the works.
Bidvest, named earlier this year in a deal worth R66m from mid-2022 to 31 July, 2026, is the first of four top-line sponsors targeted by SASCOC.
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“SASCOC is at an advanced stage in securing a second major sponsor,” the umbrella body said in its annual report.
While revenue grew by nearly R9m, the biggest factor in the surplus was a reduction in expenses of more than R24m from the previous year to R70.1m.
The International Olympic Committee and International Paralympic Committee provided the biggest chunk of income, R29.5m, followed by the National Lotteries Commission (R22m), the government (R16.9m), the presidential employment stimulus programme (R19.4m), Bidvest (R11.25m) and Mr Price, with R2.1m in sponsorship and royalties.