PSL announce R900 million deal for Betway Premiership

South Africa’s top domestic football league will now be known as the Betway Premiership, after the Premier Soccer League and the online betting company on Wednesday announced a three-year deal worth an extraordinary R900 million.

“This is the single biggest investment in South African sport,” claimed Betway’s CEO Laurence Michel.

“(It) underscores Betway’s commitment to the future of South African sport, and the future of South African football.”

PSL chairman Dr Irvin Khoza then confirmed that it was a “three years sponsorship, (worth) round about R900 million.”

The PSL’s deal with Betway comes after broadcast giant Multichoice pulled out of their existing deal. Multichoice recently reported a R4.1 billion loss for the year ending March 31, 2024, with reports saying their losses make them technically insolvent.

No penalty

Khoza added that there would be no penalty for Multichoice for exiting the deal early, while the DStv Diski Challenge is a separate five-year deal, and will continue.

The PSL chairman was at pains to stress the organisation skills of the league in getting its fixtures played out on time, and insisted the action this season will kick off as planned on August 3.

He added that the prize money for the Betway Premiership would be revealed in due course, as well as any new Premiership trophy.

Betting companies have gained an ever-increasing profile in football sponsorship. At the start of the next English Premier League season, 11 teams will wear the logos of gambling companies on the front of their shirts, though this is set to be banned in England in 2026.

Hollywood Bets sponsor the Safa women’s league, known as the Hollywood Bets Super League, while Kaizer Chiefs and Orlando Pirates are partners with supersportbet, Stellenbosch FC announced a partnership with Tsogo Sun in May and Golden Arrows have 10bet as a front of shirt sponsor.