The PSL has significantly upped the stakes for its top-flight clubs, with the winner of the Betway Premiership set to receive a staggering R20 million prize. In July, the PSL announced a three-year sponsorship deal with Betway worth R900 million.
At the time, PSL chairman Dr Irvin Khoza stated that the prize money for the league would be announced in due course when everything was finalised. He has since confirmed the significant increase from R15 million, which DStv paid out to last season’s winners.
“The winner of the Betway Premiership, number one position, will receive R20 million,” Khoza told journalists at the PSL headquarters on Wednesday.
The PSL chairman added that details regarding the remaining prize money will be announced at a later date. They also confirmed that the Q-Innovation initiative will continue.
PSL TO REVEAL FULL PRIZE MONEY POOL
Betway replaced DStv as the title sponsor of the PSL ahead of the 2024/25 season. This unexpected move comes despite DStv having a year remaining on its five-year sponsorship deal.
MultiChoice, the parent company of DStv, has been facing significant financial challenges, reporting a loss of R4.15 billion in the 2023/2024 financial year. Ending the PSL sponsorship is believed to be one of the measures taken by MultiChoice to alleviate these financial pressures.
Meanwhile, the R20 million prize by Betway will undoubtedly add extra excitement to the already competitive league. As clubs battle it out for the coveted title, the financial rewards will serve as a powerful motivator.
Orlando Pirates have started off on a high note as they look to end Mamelodi Sundowns’ seven-year dominance. Masandawana, on the other hand, have slipped once in the league, losing to Polokwane City FC.
The Soweto giants, at the summit of the log standings, have won all their opening seven games, while Sundowns are in second place, six points behind with a game in hand.
RELATED STORY: Betway announced as new PSL sponsor
