The Western Province Cricket Association suffered a loss of R15,196,168 for the 2022-23 financial year.
This is according to documents in Rapport‘s possession.
“Yes, we are concerned,” WP president Johannes Adams told the Sunday newspaper after insisting the figure was closer to R9-million. “But we are doing something about it. We have a four-year turnaround strategy until 2028, when we hope to be cash neutral or possibly better.”
According to Rapport, the financial statements for WP’s 2023-24 annual meeting have yet to be ratified. This is expected to happen by the end of November.
After fears that WP would not be able to host the Test between the Proteas and India, CSA last year gave WP a R26-million cash injection in exchange for a 12% increase of shares in Newlands’ commercial developments, taking its share to 18.3%.
Former CSA employee Corrie van Zyl was also appointed WP CEO.
Photo: Grant Pitcher/Gallo Images
