Cricket South Africa have lost as much as 200 million dollars in the Global T20 League which never materialized. Now there is a constant negligence on the matter by the board who is not in any hurry to retrieve the lost money.
A short release titled "'CSA remains in healthy financial position' said that an internal audit had found no financial mismanagement, but that a procurement and governance report had confirmed "pervasive governance lapses around the T20GL” It also contained a string of contradictory quotes from CSA president Chris Nenzani that conflicted with his comments from late July.
Its been more than five months now that the tournament is now scraped with the organization having lost half of its money after parting ways with their Chief Executive. "CSA does not intend to respond to queries based on information sourced from faceless individuals. If and when CSA has legitimate information to communicate to the public, we will do so through normal means and channels” Chris Nenzani said when asked regarding displacement of the money.
All that Chris Nenzani said regarding the matter was “A complete reconciliation of the total expenditure incurred on the T20GL has been concluded and we can now confirm that all monies have been adequately accounted for and that we have found no irregularities or financial mismanagement. These reconciliations will now be examined by our external auditors, Nkonki, as part of their normal audit procedures."
On the governance side, he added: "As a 100% subsidiary of CSA, the Board of Cricket South Africa accepts responsibility for losses incurred and the general disappointment of the tournament being postponed."
The board has now called for an immediate investigation and has promised results as well.