The figures were disclosed in a statement from CSA after its annual general meeting (AGM) here on Saturday.
"Because of the reliance on broadcast income there will be a loss again next year and thereafter the company will return a substantial profit," CSA said as it tried to justify the loss, but Minister of Sport and Recreation Fikile April Mbalula was more forthright in his opening address at the AGM.
In a hard-hitting speech delivered on his behalf by his Deputy, Gert Oosthuizen, Mbalula hit out at the 'shenanigans' within CSA that forced him to establish the Nicholson Inquiry.
The inquiry pointed finger to now dismissed chief executive of CSA Gerald Majola as having paid himself and other CSA staff huge unauthorised bonuses from the IPL 2.
The Twenty20 tournament was played in South Africa due to security concerns around elections at that time in India.
"Our Constitution enjoins us to manage and lead the sport fraternity in a manner and spirit that minimises that interference by one entity into the other," Mbalula said.
"However, the Constitution equally enjoins and empowers Government to intervene in particular situations, in Federations or sport bodies, where there is evidence of conflict, maladministration and mismanagement.
"More so where there are allegations of corruption and embezzlement," Mbalula said as he lauded the changes being implemented by CSA to effect transformation.
"We will as from today become a beacon of hope to all the sporting nations in the world. This is because the Judge Nicholson Judgment and Recommendations lay a new foundation for sport law in South Africa and abroad. It has entrenched a new corporate governance model in sport and recreation in our country," he said. MORE
