In a significant boost for South African football, Premier Soccer League chairman Irvin Khoza announced yesterday that the winners of the Premiership title will receive a staggering R20 million in prize money at the end of the season.
This increase marks a notable jump from the R15 million awarded to last season’s champions, Mamelodi Sundowns, underlining the PSL’s and the new sponsor’s commitment to enhancing the competitive landscape of South African football.
The announcement was made during a press conference at the PSL offices in Parktown, Johannesburg.
“Today we will announce the prize money for the winner only,” he stated clearly, setting the stage for what many are calling a groundbreaking moment in the history of the league.
While the hefty prize money was the focal point of the announcement, questions surrounding the reveal of a new league trophy were temporarily set aside.
Khoza mentioned that this trophy would embark on “a very unique journey,” stating: “It is a trophy that has a lot of history, a lot of cultural elements around it. It is going to take some time to finalise.”
His cryptic remarks hint at an elaborate narrative behind the trophy’s design and creation, piquing the curiosity of those in attendance.
“It’s a story on its own and a journey on its own,” Khoza added, creating buzz about the potential unveiling of a trophy that promises to be a source of pride for South African football.
“But we say to the members of the Fourth Estate, watch this space because there is something monumental, something historical, something that will be among the best products of this country.”
The chairman of the Premier Soccer League, Dr Irvin Khoza, has announced the prize money for the 2024/2025 #BetwayPrem winner. pic.twitter.com/hlmH0jFWJF
The increase in prize money highlights the evolving landscape of South African football as it strives to attract more talent, sponsors and fans alike.
Betway took over the reins to partner with the PSL at the start of the current season, and left dropped jaws as they announced a R900 million deal over the next three years.
The domestic league has gained considerable momentum in recent years even under the previous sponsor, MultiChoice, and this announcement serves to further solidify its reputation as the premier competition on the African continent.
The new prize money amounts will be endorsed at the PSL’s general assembly to be held this month, while the awards for the rest of the teams will be announced at a later stage.
The PSL general elections are also set to take place next Friday, with Khoza unopposed for yet another term.