Betway has been unveiled as the new headline sponsor of the Premier Soccer League’s top flight, taking over from MultiChoice’s DStv.
The top-flight will now be called the Betway Premiership, after PSL chairman Irvin Khoza announced that they have signed a three-year deal worth R900 million with the betting company.
CEO of Betway Laurence Michel says the deal is the “single biggest investment in South African sport”.
“This underscores Betway’s commitment to the future of South African sport, particularly South African football,” said Michel.
DStv signed a five-year deal with the PSL in September 2020 as the new title sponsor of the South African top division. The deal had one more year left to run, but Betway will now take over the sponsorship.
Khoza mentioned that DStv won’t be suffering any penalties for prematurely ending their sponsorship, especially because they helped to keep the PSL afloat during the Covid-19 pandemic.
However, indications are that DStv’s SuperSport will continue as the main broadcaster of the PSL, having signed a third, five-year in 2019 for an undisclosed amount.
The pay-channel reportedly paid R1.6 billion in 2007 for the initial deal and R2 billion for the first renewal.
Michel also said they will be working closely with SuperSport to deliver a quality product to the South African people.
Khoza said the Premiership fixtures will be announced later on Wednesday following a delay.
“I can tell you that the league is starting on August 3,” Khoza said.
@JohnGoliath82