The problems of Cricket South Africa (CSA) continue to increase with Standard Bank, the title sponsor of the men’s team, opting not to renew the current deal when it expires on April 30, 2020 – ending an association with the team after 21 years. Standard Bank was the sponsor of CSA between 1998 and 2011 before coming back in 2016 when it signed a four-year-deal with CSA to the tune of approximately US$ 27 million.
Standard Bank took the decision due to the ongoing governance issues at the CSA as the organisation believes it is hampering its worldwide reputation.
“Standard Bank is committed to upholding the highest levels of leadership, integrity, and governance. In light of recent developments at CSA, which are a culmination of long-standing problems that have damaged Standard Bank’s reputation, it has decided not to renew its partnership with CSA,” Thulani Sibeko, Standard Bank Group Chief Marketing and Communications Officer said in a statement released on Friday morning.
Moreover, three directors – Shirley Zinn, Iqbal Khan and Dawn Makhobo – have also resigned from the CSA board amid calls for president Chris Nenzani to step down from the top post. CEO Thabang Moroe has also been suspended from his duties.
Currently, CSA is locked in a court battle with South Africa Cricketers’ Association (SACA) and has a projected financial loss of at least US$ 44 million in the next four-year period. Notably, CSA was heavily criticised when accreditation of five journalists was revoked without any notice during the ongoing Mzansi Super League (MSL) 2019.