Betway’s R900 Million PSL Sponsorship Explained
The Premier Soccer League (PSL) has entered into a new era with Betway as its headline sponsor, rebranding the league as the Betway Premiership.
While the initial announcement suggested a staggering R900 million deal over three years, Betway CEO Laurence Michel has clarified the terms.
The true value of the sponsorship is contingent on the deal extending beyond the initial three-year period. Michel emphasized that the R900 million figure represents the potential total value if the partnership continues for several years.
The actual amount for the first three years is significantly lower.
“It’s a big deal,” Michel told SuperSport TV.
“We want to be a big player and big players get involved in big deals. We felt it was viable.”
Despite the clarification, the sponsorship remains a substantial investment in South African football.
The league is expected to release the new fixtures on Wednesday afternoon, with details on prize money and a new trophy still to be confirmed.
While Betway takes center stage as the headline sponsor, Multichoice remains a crucial partner, continuing its broadcast rights for the league and the DStv Diski Challenge through a five-year deal.
The Betway Premiership is set to usher in a new chapter for South African football, with the potential for significant growth and development in the sport.