The 2020/21 PSL season will have one less cup competition due to Telkom withdrawing its sponsorship.
PSL chairperson Irvin Khoza confirmed on Wednesday that there would be no Telkom Knockout in the coming season.
Due to financial constraints caused by the Covid-19 coronavirus pandemic, football sponsorship has fallen on hard times over the past few months.
“As I have indicated before, Telkom is no longer a sponsor. There is one less competition this season,” Khoza said in a televised press conference.
“We are seeing companies having financial constraints and austerity measures. Who would have thought that banks wouldn’t declare dividends?
“Telkom has been a good sponsor, but it is out. I am confident that season we will find a sponsor to take its place next season.”
READ: PSL clubs rub hands with glee while new sponsorship prize money is loading
Telkom is not the only sponsor to part ways with the PSL – banking giant Absa also discontinued its sponsorship of the Premiership after 13 seasons. Broadcast satellite service provider DStv was announced as the new title sponsor of the Premiership last week.
“This [the DStv sponsorship] is going to be a five-year deal. One of the things that was on the minds of people was the issue of prize money,” said Khoza.
“The executive committee decided that the prize money of R15 million will remain because, last season, it was the first season with that prize money. We thought it makes sense because of economic constraints.”
Khoza confirmed that the new season would commence on October 17 with the MTN8 tournament, and the Premiership would start on October 24.
Meanwhile, Khoza said the 2019/20 PSL Awards would take place “in the next few weeks”, but he could not confirm the date.
The awards will be the final collaboration with Absa.
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