Betway CEO Laurence Michel has confirmed that betway’s new mega deal with the Premier Soccer League is worth up to R900 million, but not over three years.
Earlier on Wednesday, PSL chairman Dr. Irvin Khoza had announced a new sponsorship with betway, with the league now known as Betway Premiership.
When asked about the duration of the new sponsorship and how much it is worth, Khoza confirmed: “It’s three-year sponsorship,” before he added: “It’s round about R900 million.”
However, Michel later rectified that it’s a R900 million deal, only if the sponsorship continues beyond the initial three-year deal.
“That number [R900 million] is a big number,” the Betway CEO told SuperSport TV.
“[But] that number is if everything goes [on] for the years and years and years. Obviously we start off with a three-year deal.
“The number now is maybe not as much as that number [R900 million] for the three years, but certainly if the deal continues after that, the number is there.
“It’s a big deal. We want to be a big player and big players get involved in big deals. We felt it was viable.”
The new Betway Premiership fixtures are set to be released on Wednesday afternoon, while the prize money and a new league trophy are yet to be confirmed.
Meanwhile, Multichoice – through DStv – remain the major broadcast partner of the league, while the DStv Diski Challenge continues as part of a five-year deal with Multichoice.
