The Premier Soccer League (PSL), the top tier of club soccer in South Africa, has confirmed that banking group Absa has renewed as title sponsor for a further five years.
The agreement will see the league continue to be known as the Absa Premiership until the end of the 2021/22 season.
According to PSL chairman Irvin Khoza, the new deal is worth the same as the previous contract, which was valued at ZAR500 million (US$37.5 million). The extension marks the continuation of a partnership which first began in 2007.
Commenting on the renewal, Khoza said: “The last ten years of this partnership have demonstrated that for a relationship to enjoy longevity, both sides must have common goals that glue them together.
“As we renew for a further five years, we would like to thank Absa for their trust and confidence in the PSL as the best vehicle for their message to millions of people. As we continue with the sponsorship, we do know that for this partnership to remain impactful, it cannot be business as usual; we have to continuously innovate to remain relevant.”
Bobby Malabie, group executive of marketing and corporate affairs at Absa, added: “Our longstanding partnership with the Premier Soccer League has been a fruitful one. Our association with local soccer and sponsorship of the biggest soccer league on the African continent will see us continue to deliver thoroughly entertaining soccer to South African fans.”
The announcement comes only days ahead of the new Absa Premiership season, which kicks off when last year’s champions Bidvest Wits take on Cape Town City on 18th August.