Club Cricket in the City of Tshwane is in a healthy financial position after receiving a 2.4 million rand injection from a Allan Gray investment payout.
The last payout came in 2021 after the investment account performed well; and the 2.4 million rand will go towards club facilities’, maintenance and upgrades.
This good news comes off the back of Titans Cricket and Northerns Cricket Union positive financial performance in 2022/2023 where both entities saw profits.
“This will be a big boost for our clubs. We had discussions at out 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.” Explained 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 on how the funds would assist in ensuring the clubs remain sustainable community organisations.
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.
“Club cricket has a 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.” Faul said.