Betway has been named the title sponsor of Africa’s top-flight football league, Premier Soccer League (PSL).
Following the agreement with South Africa’s leading online gambling brand, the league will be known as the Betway Premiership, with the operator stating that this deal marks the beginning of a new era for the league.
Although the name change is perhaps most notable on the surface of the agreement, the money behind the deal is what has caught the eye of many supporters.
Betway’s CEO Laurence Michel claims it is “the single biggest investment in South African sport”, with the deal reportedly valued at around R900m (£38.3m) for a three-year period.
The CEO said: “We are so excited by what this partnership will do for football fans in South Africa. As a brand, we are known globally for our sponsorships of the world’s biggest clubs and tournaments and that experience is going to play a huge part in driving the PSL forward.”
Founded in 1996, with a history stretching back nearly a century, the PSL is arguably South Africa’s most popular sporting event, with the next season’s games set to kick-off on 3 August.
Dr Irvin Khoza, Chairman of the PSL, added: “This is a massive boost for every lover of football in this country. 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.”
As previously mentioned, Betway has a strong presence in South Africa which has been bolstered through sponsorships of the region’s sports teams over the years.
For example, in 2022, the gambling company became the inaugural title sponsor of SA20, the country’s T20 cricket league.