A deal worth R900m has been sealed between PSL and Betway.
The much awaited news broke out at the press briefing, on Wednesday morning at the Premier Soccer League offices, Parktown.
As of August 3, when the league kicks-off, it will now be known as Betway Premiership for the 2024/25 season opener.
The R900-million deal will see teams banking more and meeting their expectations.
Laurence Michel, Betway head-honcho said they are looking to add a new chapter to the PSL’s rich history.
“Football is a fundamental part of South African life. It really is in our blood and has been for generations,” he told the media.
“We are incredibly proud to be the title partner of the Betway Premiership. It further demonstrates not only our respect of the history of the league, but our vision for the development for its future.
“The PSL aligns with our values as a brand that commonly champions great South African soccer stories.”
PSL chairperson Dr Irvin Khoza who was at pains by the departure of the DStv, but at the same excited by the prospect of a new sponsor, said as PSL their relationship with outgoing sponsor DStv remains as solid as ever.
The pay channel ended their sponsorship deal a year prematurely apparently due to DStv owner MultiChoice not doing so well financially, to the extent that there is speculation they could be bought out by the owners of French television station Canal+.
“This is a partnership that we are jealous of,” Khoza said of the relationship with DStv.
“It’s a very privileged experience to have a corporate partner as unique as (DStv subsidiary) SuperSport. If only most of the sponsors could be of the same level of their values… and I am happy that Betway has joined.”
DStv will remain as a broadcast partner, as well as backers of the reserve league, despite the title sponsorship role coming to an end.
“We are grateful and we are appreciative that they came up with money to cover Diski (reserve league), which was not in their budget.
“It is a pet project of MultiChoice – they have a programme called ‘Let’s Play’. So, they are here to stay, and there is a five-year contract that is starting this year, so I can guarantee that they are here for five years.”
With DStv not having “asked for a refund” when the PSL could not deliver on their deal during the Covid-19 pandemic that forced the league to be played in a bubble, Khoza said he is not going to impose financial penalties for having dropped the league prematurely.
“I don’t want that, when I leave this place, they say, ‘This Irvin Khoza is a bottomless pit of ingratitude’.
“The Betway Premiership heralds a new era for football in South Africa and we are looking forward to the upcoming season which will start on 3 August,” assured Dr Khoza, who also confirmed they will only announce the new prize-money structure for the teams at a later date, but expectations are that the Premiership champions will make more than the R15 million that was previously banked by the league winners.
This is good news for football in SA, following previous reports that the league would begin the season late, due to sponsorship dispute.
The league fixture will be released latest on Thursday.
Image (A million rand bet. PSL boss Dr Irvin Khoza and Betway head-honcho Laurence Michel, at the announcement deal held at PSL offices on Wednesday).
