This archive report was first published on 12 July 2020.
July 12, 2020 - The South African Premier League, the continent's most lucrative football competition, is on the hunt for a new title sponsor following Absa Bank's decision to end its 13-year partnership.
League chairman Irvin Khoza revealed that four potential sponsors are in the running to take over the league, with two international and two local companies vying for the top spot.
While Khoza remained tight-lipped about the identities of the potential sponsors, he confirmed that the new title sponsor will be announced after the 2019/2020 season concludes, likely in late August.
SuperSport, the main broadcasters of the Premier League, have a five-year deal in place, reportedly worth a significant amount. The company paid 1.6 billion rand in 2007 for the initial deal and 2 billion rand for the first renewal.
Other potential sponsors, including Johannesburg-based DStv and international betting company Betway, have been linked to the deal. Betway recently agreed a three-year deal to sponsor the South African Test and one-day international cricket teams.
Experts believe the Premier League sponsorship is extremely attractive, with Kelvin Watt, Africa managing director for Nielsen Sports, stating that there is no sponsorship that resonates as strongly with a broad range of South Africans as the Premier League.
Errol Madlala, director of Pitch Sports Media and Communications, agreed that supporting the Premier League is a prize worth pursuing, citing the league's strong market and 10 months of weekly engagement with fans.
Absa Bank's decision to end its partnership with the Premier League was not related to the coronavirus pandemic, according to sponsorship boss Mtunzi Jonas. The bank's senior leaders took the decision to withdraw from the partnership, which they feel is best for the company.
The Premier League offers significant prize money, with the winner set to receive a record 15 million rand ($895,000/790,000 euro) in the 2019/2020 season. Even the team finishing last will pocket 440,000 rand, a substantial amount compared to many African countries.
