South Africa’s Premier Soccer League scores record US$49m Betway title sponsorship

South Africa’s Premier Soccer League (PSL) has announced gambling company Betway as its new title sponsor.

Contract:

• South African top flight to now be known as the Betway Premiership
• Three-year deal worth 900 million rand (US$48.7 million), says league chairman Irvin Khoza

Context:

Betway Africa chief executive Laurence Michel has described the deal with the PSL as “the single biggest investment in South African sport”. The gambling firm takes over from MultiChoice-owned DStv as the league’s main sponsor. DStv’s five-season pact still had a year left to run but MultiChoice has been hit by heavy losses, having posted a 4.1 billion rand (US$222 million) net loss for the 2023/24 financial period and 2.9 billion rand (US$157 million) in the year prior.

Before DStv, the PSL’s previous title sponsors were banking and financial services conglomerate Absa, and Castle Larger.

For Betway, the PSL tie-up adds to a sports sponsorship portfolio in South Africa that includes the SA20 franchise cricket tournament and South Africa (SA) Rugby.

Comment:

“This is a massive boost for every lover of football in this country,” said Khoza. “Our partnership with Betway confirms our league’s standing as one of the best in the world and heralds a wonderful future for our game.

“Betway’s energy and enthusiasm will have immediate impact across all facets of the game, and on behalf of the PSL, I am proud to welcome them on board as title sponsor and partner.”

Michel added: “Football is a fundamental part of South African life. It really is in our blood and has been for generations. 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 success stories.”

We’re super proud of how it’s brought people together and made a difference in our country.

Football is life in South Africa – it’s in our DNA! #BetwayPrem #Betway #Heritage pic.twitter.com/yR8MMeawni

— Betway ZA (@Betway_za) July 24, 2024

Coming next:

The 2024/25 PSL season is set to get underway on 3^rd August.

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