PSL to increase clubs’ grants after record breaking billion rand revenue – Khoza

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For the first time in the history of professional football in Sub-Saharan Africa, the Premier Soccer League has declared a record R1 billion in revenue for the 2018/2019 financial year.

This was announced by the PSL Chairman Irvin Khoza at the league’s Annual General Meeting (AGM) at Emperors Palace in Kempton Park on Thursday.

At a time when the country and the world at large is reeling from a financial recession, the PSL is emerging stronger during these financial times.

Most of the league’s revenue is generated from their numerous lucrative sponsorship deals. Khoza says this is one of the highlights of the PSL since it was rebranded back in 1996.

The league has seven official sponsors and broadcast partners, namely SuperSport, Absa, Nedbank, Telkom, MTN, MultiChoice and GladAfrica. This year also marked the renewal of the TV rights deal and Khoza says it also proved to be crucial in eclipsing the R1 billion mark.

It was during the 2018/2019 financial year that the PSL also announced a five year sponsorship deal with GladAfrica for the National First Division.

It had been 12 years since this division last had a sponsor and it’s also believed that their arrival helped to push the league over the billion rand benchmark.

Khoza says the clubs monthly grant for the PSL and First division which is at R2 million and R500 000 a month respectively will be increased from next season.Report by Velile Mnyandu