Springbok deal eases South African cash crisis

Springbok deal eases South African cash crisis

Cash-strapped South African national rugby body SAR got a boost Friday with a three-year sponsorship of the Springboks by a international mobile telecommunications company MTN.

The MTN logo will appear on the national team jerseys for the first time Saturday in a season-opening Test against France at Loftus Versfeld stadium in Pretoria.

No financial details of the sponsorship were announced when the deal was disclosed during the traditional pre-match team photograph.

Media speculation said the deal could be worth about 25 million rand (about $1.95 million, 1.75 million euros) a year.

The previous sponsors of the Springboks, one of the four major South African banks, was reportedly worth about 70 million rand a year.

SAR announced a loss of 23.3 million rand last year.

“It has been a tough couple of years from a financial perspective for SAR,” admitted chief executive Jurie Roux at the announcement.

“Our challenges remain, but this partnership marks the crossing of a watershed for SAR.”

South Africa and France are playing a three-Test series with the other fixtures in Durban (June 17) and Johannesburg (June 24).

Tags:

south africa mtn Sponsorship financial crisis Springboks

Want to send us a story? SMS to 25170 or WhatsApp 0743570000 or Submit on Citizen Digital or email wananchi@royalmedia.co.ke

Leave a Comment

Comments

No comments yet.

latest stories