The South African Football Association is looking at presenting a financial turnaround strategy to minister Gayton McKenzie after their next national executive committee meeting.
The Department of Sports, Arts Culture, led by McKenzie, offered a R5million bail out for the non-payment of Bafana Bafana and Banyana Banyana, as well as staff members within the organisation.
READ: R5m Bail Out In Bafana Non-Payment Issue
It had been reported on various media platforms that players of both national teams, as well as some of the technical team members, had not received payment from the association from recent camps, but McKenzie and his department stepped in to bail SAFA out.
In a statement, SAFA said: "The South African Football Association (SAFA) wishes to thank the Department of Sports, Arts, and Culture after receiving an offer of a R5 million advance to help pay for Bafana Bafana and Banyana Banyana bonuses and staff salaries.
"The amount will be deducted from the 2025 grant, which is 70% of the government's contribution and support to football in this country. We wish to thank Minister of Sports, Arts, and Culture Gayton McKenzie for this contribution."
"SAFA has indicated that some of their financial issues stem from insufficient revenue from sponsorships
"Unfortunately, our sponsorship funding which we heavily rely on, has not been sufficient in recent times to see us meet our monthly obligations, over and above other costs that arise due to the hosting and participation of our national teams in international competitions," CEO Lydia Monyepao was quoted as saying by the association.
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"Despite the reduction in our financial resources that have dwindled recently due to the tough economic climate in the country and other reasons beyond our control, the Association has not stopped investing significantly in the preparation and participation of competitive South African national teams on the international stage (from U15s to senior men and women) that have continued to make the country proud."
