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New twist in Absa/ PSL tale
08/11/2007 20:36 - (SA)
Gugulakhe Masango
Johannesburg - Sonono Khoza, the daughter of the Premier Soccer League (PSL) chairperson Irvin Khoza, is an employee of Absa, which recently paid R500m to acquire the right to be the league sponsor over a period of five years.
Coincidentally Fin24 has established that Sonono works in the marketing and sponsorship division run by group marketing executive Happy Ntshingila, who was key to the discussions of the sponsorship deal.
Did Sonono declare to Absa that she is a daughter of Khoza and vice versa? If she did or not, how has Absa handled it? And Sonono did have access to privileged information about the possible sponsorship?
"I was not part of the team that was negotiating the deal (R500m sponsorship awarded to PSL)," argued Sonono. She further says there was no reason to disclose to her employer (Absa) that she is a daughter of Khoza's.
"It's immaterial. It's just coincidental that my father was negotiating the deal with Absa. The two are just (seperate)."
But doesn't constitute a conflict of interest on Sonono's part? After realising that she might be erring on the side of the "truth", Sonono, quipped: "I'm not in a position to engage in this matter. Absa has a spokesperson who deals with these issues."
Absa spokesperson Patrick Wadula confirmed that Sonono is an Absa employee. "She works in Absa Events, not in Sponsorships. Discussions of sponsorships are always held under strict confidentiality, and adhering to corporate governance," says Wadula.
He also reiterated that Sonono could not have been privy to sponsorship discussions by her not being part of the team.
Absa won the PSL sponsorship deal after rumours suggesting that Standard Bank, Old Mutual and Vodacom were interested in securing rights to sponsor the league.
However since signing the deal, Absa management has been at pains to defend its decision. At the centre of the controversy has been the yet-to-be finalised "token of gratitude", which was at first labeled as commission.
The PSL negotiating team - Irvin Khoza, Kaiser Chiefs boss Kaizer Motaung, Mato Madlala and Trevor Phillips - are in line to receive R70m in their individual capacities.
In an open letter to Absa CEO Steven Booysen, finance minister Trevor Manuel labelled the transaction as "morally reprehensible" and "corrupt".
Manuel further warned: "I surely need not remind you that corruption is a criminal offence for both the giver and receiver. I cannot understand, though, why the same issues do not arise in your mind when dealing with sports administrators.
"My understanding is that the individuals concerned are elected into office to serve the interests of the sports code. Most of them have private interests for profit, both in soccer and outside of it, there cannot ever have been an expectation that they would have acquired ownership of soccer that they have an entitlement to personal enrichment for administering the sport."
Asked about Absa's position relating to the Ttoken of gratitude" to be paid to PSL executives, Wadula says: "The matter of commissions was discussed by the PSL executives last week and repeated in parliament yesterday (on Wednesday) that no commissions were discussed or are to be paid by Absa."
- Fin24
- Finance24
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