Limpopo-based Venda Football Academy (VFA) has netted a R15-million sponsorship from Salungano Group, a company run by its founder Robinson Ramaite.
Ramaite, who purchased the franchise from Cape Umoya United a few years ago, is also the CEO of Salungano, a mining company listed on the JSE.
In a statement released on the JSE on Thursday, the company said it will give the team that is campaigning in the second division R5-million a year for the next three years.
The company had to inform the market about the sponsorship as it is related party transaction in terms of the JSE listing requirements.
“The sponsorship compliments Salungano Group’s new strategic direction and would serve to promote and position the new Salungano brand in the market [evolving from coal to diverse renewable energy investments],” Salungano said.
“The VFA team and management will conduct football clinics/training at the local community facilities of the Moabsvelden mine community and surrounding areas.”
Salungano added that the sponsorship includes the purchase of an official Salungano VFA tour bus, development of soccer at the University of Venda and four other SAB League (teams), as well as the purchase of VFA’s vehicles for transporting the players and coaches, among other provisions.
The Venda-based team has not started the season well, it is currently languishing in position 13 on the log in the Motsepe Foundation Championship after eight games.
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