Irvin Khoza (Gallo Images)
The Premier Soccer League (PSL) on Thursday announced broadcaster DStv as its new headline sponsor with the league now renamed as the DStv Premiership.
DStv is a sub-Saharan African video entertainment company owned by the MultiChoice Group.
Johannesburg-based DStv had been strongly linked by the media as a candidate for the headline sponsorship.
SuperSport, which has 15 channels in the DStv package, is the main broadcaster of the PSL, having signed a third, five-year deal last year for an undisclosed amount.
The pay-channel reportedly paid R1.6 billion in 2007 for the initial deal and R2 billion for the first renewal.
Absa sponsorship boss Mtunzi Jonas said at the time that the decision of one of five major banks in South Africa to withdraw was not related to the ongoing coronavirus pandemic.
“The economic impact was there long before Covid-19 and I do not think the timing matters,” he said.
“Absa senior leaders have taken a decision which they feel is best for the company,” he said of a bank that sponsors the country’s rugby team, which won the 2019 World Cup in Japan.
Renowned for its efficient organisation, the PSL is commonly described as the “EPL (English Premier League) of Africa”.
The South African PSL offers prize money that the majority of African countries can only dream of matching.
According to reports, Absa were investing R140 million a season in the most recent three-year sponsorship deal that came to an end at the end of the 2019/2020 campaign.
Additionally in November 2019 for the first time in its history declared a record R1 billion in revenue for the 2018/2019 financial year.
The league, which was previously sponsored by Castle Lager – then known as the Castle Premiership – from its inception in 1996 until 2007, will now be backed by MultiChoice as the new title sponsor moving forward.
– Compiled by Baden Gillion
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