ASA asks National Lottery for bailout
ASA’s Zola Majavu says the body is in dire financial problems and needs urgent help.
JOHANNESBURG - Athletics South Africa (ASA) administrator Zola Majavu on Wednesday said the association approached the National Lotteries Board for a financial bailout.
Majavu revealed that the ASA was insolvent.
It only had R10 million in its account, with debt far outstripping its cash flow.
Majavu added the athletics body owed the taxman just over R1,6 million, and some athletes were still owed prize money.
ASA was recently put under administration by the South African Sport Confederation and Olympic Committee (Sascoc) after internal power struggles and maladministration began to tear the athletics body apart.
Majavu said they needed a financial rescue to survive.
"There has been an application that has been submitted to the National Lottery to seek some sort of bailout.
"Generally, the lottery would not give assistance for historical problems. They would rather fund existing programmes than ones that are yet to happen."
He said the financial status of the association was dire.
"To put it bluntly, we have been borrowing from Peter to pay Paul and living from day to day. We don't know who is responsible but this is the problem we have inherited."