Absa dumps PSL

Banking giant believed to be staying in another capacity including being financial service provider

Absa Bank will not renew its R140m-a-season sponsorship of the premier division of SA football, but the banking group is mulling other ways to continue its relationship with the Premier Soccer League.

The group’s three-year sponsorship of the league comes to an end when the current season ends, but it has emerged that Absa could stay on and sponsor one of the PSL’s top-flight cup competitions.

Insiders said on Thursday that the 16-year relationship was not over and besides taking over one of the cup competitions, the two parties were also in talks about Absa coming on board as the official financial service provider.

Absa group CEO Daniel Mminele said while its sponsorship of the league was coming to an end, Absa was exploring other alternatives to continue the relationship.

“We have enjoyed a long, fruitful relationship with the

PSL, and have supported the PSL’s work in SA football and sports development.

“While we will no longer be the anchor sponsor for the PSL, soccer will always remain close to our hearts.

“We are therefore exploring alternative options to continue our relationship with the PSL,” Mminele said.

“We would like to thank the PSL and the football community for the excellent partnership and support over the years.”

PSL chair Irvin Khoza said the league became a force after Absa’s arrival.

“The Absa Premiership era will forever be a reference point for football glory, both in terms of club development and player performance in our sports history.

The PSL is grateful to Absa for strengthening the league to true professionalism,” Khoza said.

“Memory is a prized component for football followers around the world. The period 2007-2020 will be etched in the memories of football fans as a high point in the PSL.”

The original deal between the two parties in 2007 was worth R500m.