The announcement was made by the PSL chairperson Irvin Khoza at the PSL Offices in Parktown, Johannesburg on Wednesday.
Khoza revealed that the PSL and Absa had to make sure that the escalation of the winning prize was possible and believes the level of the competition in the league will rise.
“The stakes are going to be very high. This season the Absa Premiership champions will earn a whopping R15 million. Yes, you heard right, R15 million. Our sponsors, Absa and us as the league, had to crunch the numbers to ensure that this is possible,” said the chairman.