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Bacher rejects Majolas R5m World Cup bonus claims

Published: Wednesday, December 7, 2011, 16:49 [IST]
 
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Bacher rejects Majolas R5m bonus claims

Johannesburg, Dec 7: Former South African Cricket supremo Ali Bacher has rejected claims by CSA CEO Gerald Majola that he set the precedent for huge bonuses by taking a five million rands payment after the 2003 World Cup held in South Africa.

Breaking his silence for the first time in nearly two years on huge bonus payments from the IPL to himself and other CSA staff, Majola was testifying at the Nicholson inquiry into the financial affairs of CSA, instituted by sports minister Fikile Mbalula.

Majola admitted not having declared the IPL bonuses in the manner prescribed by the Companies Act for corporate governance but denied that the board did not know about the bonuses.

Earlier, former CSA board members testified at the inquiry that the bonuses were not cleared by them. Majola said that the bonuses were cleared and he had merely forgotten to confirm it in writing.

Majola said after the 2003 World Cup, Bacher and others at the then United Cricket Board of South Africa (UCBSA) had shared a nine million rands bonus. Bacher was the managing director of UCBSA and the tournament director for the World Cup.

Approached for comment on Wednesday, Bacher denied that he received the lions' share of the World Cup bonus but admitted to receiving five million rands as part of a retirement fund.

"The bonus was not really related to the success of the tournament," Bacher said.

"It was brought up on the basis that I had served cricket professionally for two decades and it was found that my retirement fund was inadequate. The bonus was partly because of the Cricket World Cup success and partly to improve my retirement fund."

PTI

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