Teams owe PLE over E2.2m Ǯ —ˆˆ•ǯǡ •‹‰‹œ‹‹ ‘™‡ ͲǤͲͲ

MBABANE – The premier league has reported that it is owed over E2.2 million by teams.

This is as per the Premier League of Eswatini (PLE) report tabled in this past Saturday’s

TOP 10 OWING TEAMS AS AT JUNE 30, 2022 (AS PER THE REPORT): OTHER HIGHLIGHTS FROM THE REPORT:

Total fines and protests owing were calculated at E329 910. Gate takings raked in only E38 170 for National First Division teams.

annual general meeting (AGM) held at Sigwaca House. Topping the list of receivables as per the financial report for the year ended June 30, 2022 are Black Swallows with E252 015. In accounting, receivables are the funds that customers owe your company for products or services that have been invoiced.

In the case of the PLE, the customers are the teams while receivables are in respect of loans and fines, among other things.

MBABANE – Young Buffaloes and Nsingizini Hotspurs are in the ‘good books’ of the Premier League.

At least 42 teams are said to be owing the elite football office in excess of over E2.27 million.

There was an increase from E471 623 to E646 101 in money spent on PLE salaries

The organisation made a deficit of E109 500

Notably, some teams that were long relegated still owe the premier league. They include Red Lions and Bad Boys who owe E20 000 and E24 194, respectively.

In a special general meeting this year, there was a query from the teams regarding an amount of E269 242 which is owed by regional teams and the recovery strategy in place. It was said the PLE was working with the Eswatini Football Association (EFA) to recover the money.

Meanwhile, the PLE made a deficit of E109 500, which was a notable recovery from the previous

According to the Premier League of Eswatini (PLE) financial report for the year ended June 30, 2022, Buffaloes and Premier League-bound Nsingizini Hotspurs do not owe the PLE even a single cent as per the report for the period under review.

E324 953 deficit. According to the statement of comprehensive income, the gross revenue was calculated at E8 604 493 against administrative expenses of over E8.7 million.

The financial statements, on the other hand, were audited by FIPS Chartered Accountants. FIPS reported that the financial statements presented fairly, in all material respects, the financial position of the PLE as at June 30, 2022.

As per the norm, the PLE Executive Committee led by Chairman Mark Carmichael is responsible for assessing the organisation’s ability to continue as a going concern.