Club Cricket in Tshwane is in a healthy financial position after receiving a R2.4-million injection from an Allan Gray investment payout.
The last payout came in 2021 after the investment account performed well, and the money will go towards club facilities, maintenance and upgrades.
This good news comes off the back of Titans Cricket and the Northerns Cricket Union’s positive financial performance in 2022/2023, where both entities saw profits.
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“This will be a big boost for our clubs. We had discussions at our breakaway in 2022 and listed funding as one of the biggest problems that our clubs face. This will go a long way in helping them meet their needs to ensure favourable environments for cricket to flourish,” said Titans Cricket CEO, Dr Jacques Faul.
The news was shared with the clubs at the 2023 Titans Cricket Members Council Breakaway and there were discussions regarding how the funds would assist in ensuring the clubs remain sustainable community organisations.
According to the Titans, a scientific model has been devised for the clubs to access the funds, and the exact amount they require based on their specific needs.
“With sustainability at the centre of the process, this model will ensure that funds are utilised for exactly what they are intended for,” said a Titans statement.
“Club cricket has huge significance within the community, which makes our responsibility to support them an even bigger one. So many players that have gone on to represent the Titans and South Africa started at many of these clubs, so we have a vested interest in their well-being and sustainability, which this payout will assist with,” said Faul.