After sponsoring South Africa’s epic football league, the Premier Soccer League, since 2007, financial institution Absa has announced that it will no longer do so. In a statement released on Thursday at noon, the bank said although they will not be bankrolling the most loved game in South Africa, football will always remain close to their hearts.
Media reports started doing rounds from as far back as January this year when the bank revealed its intentions to be the headline sponsor of the South African Premier Soccer League. The coronavirus pandemic has also dealt a blow to sports sponsorship across the world as many companies struggle to stay afloat. The contract with the league will not be renewed when it expires.
Absa sponsored the PSL to the tune of R140 million a season.