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Majola asks Cricket SA for a R4m golden parachute

According to SportLIVE, suspended Cricket SA (CSA) chief executive Gerald Majola tabled a settlement to walk away from his job, according to a New Age report on Friday. The report said that Majola's lawyer, Pumezo David, confirmed that they made an offer to the CSA that Majola would leave if he was paid two year's salary.

11 Sep 2012

"We're waiting for the CSA to come back to our client to inform us whether they've accepted our settlement offer or not," David told the newspaper.

In March, the Nicholson report found Majola had paid R4.7 million in bonuses to CSA staff without clearance from the board or the remuneration committee, Majola was subsequently suspended. SportLIVE reports that Majola earned about R2 million a year and could walk away with about R4 million if CSA paid him out.

Read the full article on www.sportlive.co.za.