Premier Soccer League (PSL) chairman Irvin Khoza is expected to announce Multichoice as the new headline sponsor of the Premiership during a Heritage Day press briefing tomorrow.
This comes after Absa, the bank that has been bankrolling the country’s elite league for more than 13 years, announced it was terminating its R100-million a year sponsorship deal of the Premiership in June, citing the tough economic situation in the country as the reason.
Sunday World was the first to break the news of the imminent termination of the sponsorship deal between the PSL and Absa as far back as January.
The news came as a surprise after the bank has just increased the league champions winner’s prize money from R10-million to R15-million for the recently ended season that was delayed due to the coronavirus pandemic.
Multichoice/DStv, who are the sponsors of the PSL club SuperSport United, recently removed the name DStv from the football club’s player jerseys, replaced it with Showmax, thus paving the way for Multichoice and DStv becoming the league’s new backers of the league.
Showmax is an online subscription video on demand (SVOD) service launched by Multichoice in South Africa in 2015.
Khoza is expected to give details of the terms of the deal, in the form of the number of years of the contract and how much the new sponsors will be injecting into the coffers of the league annually.