This exploratory research study has provided the theorisation of the key drivers of why South African companies invest in sport-based Corporate Social Responsibility (CSR) programmes. The objectives of this research were addressed through a case study using unstructured qualitative interviews conducted with five (5) managers from companies that are funders and trustees of The Sports Trust. This research identified key drivers of companies’ investment in sport-based CSR as: social integration and economic development; assisting companies in implementing their strategies; improving the companies’ performances through attracting and increasing their client base; bringing immediate gratification and other intangible benefits; fulfilling regulatory requirements for public and other regulatory bodies; and being seen as good corporate citizens. Companies are now closely integrating CSR investment with sponsorship issues which seek to promote brand awareness, consumer loyalty and profitability of their products. Companies are also combining their CSR initiatives with their cause-related marketing campaigns as well as in the creation and innovation of new products. From the qualitative data analysis, it was possible to conclude that although funders of The Sports Trust’s views of CSR tend to highlight different aspects, they fit the legitimacy theory which can be considered a mix of economic and ethical theories described by Goddard (2005). Moreover they could be considered as being complementary. Copyright / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted