Bidvest and Betway bid to replace Absa as PSL sponsor – report

Head honchos at the Premier Soccer League (PSL) will rest easy knowing that at least two big cooperates are trying to take Absa’s place as the local league’s main sponsor.

Absa and the PSL may be parting ways after 13-years at the end of the 2019/2020 season, but two massive companies are reportedly waiting in the wings to take over as the league’s main sponsors.

According to SowetanLIVE the Bidvest Group and betting company Betway are the frontrunners to take over as the league’s sponsor.

The new sponsor is set to pay out R20 million at the end of the season to the club that lifts the league title trophy. Absa will pay R15 million to the winners of the 2019/2020 season, marking an end to their relationship with the PSL which started in 2007.

Bidvest’s long-standing relationship with Johannesburg club Bidvest Wits is set to end with the club going up for sale.

“It looks like Bidvest will be the new sponsor for the league from next year, but don’t rule out Betway just yet,” a source close to the situation was quoted as saying.

“The deal is worth millions and Bidvest have offered more than what the other company has. Bidvest wants to sponsor the league, hence they are selling the club Wits. The team will be relocating to Venda once everything has been agreed.”

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