SASCOC President Barry Hendricks revealed that National Federations were facing financial problems but insisted that his organisation should not be treated like a "bank" ©SASCOC

The South African Sports Confederation and Olympic Committee (SASCOC) is set to unveil a four-year ZAR 66 million (£2.8 million/$3.6 million/€3.2 million) sponsorship deal - but its President Barry Hendricks has warned the country’s sporting bodies that his organisation should not be treated like a "bank".

Hendricks has revealed that the SASCOC had received ZAR 7 million (£300,000/$380,00/€340,000) from a sponsor as part of the agreement that is expected to be officially announced next month.

The funds are due to be used to support athletes through the SASCOC's "Operation Excellence" programme.

"There are three others [sponsors] to go so that we can work with around ZAR 260 million (£11 million/$14 million/€12.7 million) over four years to service you as well as our athletes," said Hendricks in a report by South African newspaper Times Live.

"And they [the new sponsor] intend as promised to bring in the other sponsors to assist us as well and that will only benefit you as sport federations because that's where the money’s going to go."

Hendricks revealed that National Federations in boxing and taekwondo had paid back the money the SASCOC had lent them but admitted that other sporting organisations in the country were also facing financial difficulties.

South African athletes are set to benefit from the SASCOC's major sponsorship deal that is due to be unveiled next month ©Getty Images
South African athletes are set to benefit from the SASCOC's major sponsorship deal that is due to be unveiled next month ©Getty Images

"We've noticed a trend developing that because of the state of the economy and because of lack of funding, federations are becoming more and more desperate around servicing themselves and their athletes," he said.

"But we cannot be appearing to be a bank, no matter how much we want to help you.

"And we will help you under the condition that the money is returned, so that we can make sure that our own budget and our finance processes remain secure and above board.

"So I do feel for you and if we are not able to assist you, please don't feel as if we don't want to.

"It's merely that we are following our own strict financial policies and conditions so that we remain a proper organisation."

SASCOC President Barry Hendricks has urged on governing bodies in South Africa to concentrate on producing top athletes rather than getting involved in internal disputes ©Getty Images
SASCOC President Barry Hendricks has urged on governing bodies in South Africa to concentrate on producing top athletes rather than getting involved in internal disputes ©Getty Images

Hendricks admitted he was also disappointed by the number of disputes going on within the National Federations.

"This should not be happening," Hendricks added.

"We want vibrant, well-structured, well-run federations and yet, every week these issues cross my table about disputes, problems in sport.

"SASCOC is the umbrella body, we can’t police.

"You must police what’s going on in your own federations and you must assist us in that regard."