With the start of the new DStv Premiership season under a month away, the Premier Soccer League (PSL) is reportedly scrambling to find a new main sponsor because of uncertainty surrounding their current deal with MultiChoice’s DStv.
Earlier this month the PSL sent a letter to DStv Premiership clubs asking them to postpone printing the DStv logo on the sleeves of their respective jerseys ahead of the new season.
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 has one more year left to run, but the uncertainly around MultiChoice’s current financial position may force them to withdraw their backing of the Premiership, as well as the reserve league, MultiChoice Diski Challenge.
Reports suggest that French multimedia group Canal+ is on the verge of buying a controlling stake in MultiChoice, creating more uncertainty. In May the group announced it increased its stake in the South African media group to 45.2%.
Meanwhile, the SABC reported that betting company Betway is currently in talks with with the PSL to replace DStv as the league’s title sponsor.
It’s unclear how much the sponsorship is worth. According to reports, former title sponsors Absa invested around R140 million a season before their partnership with the PSL came to an end at the end of the 2019/20 campaign.
DStv’s SuperSport is also 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.
@JohnGoliath82