Motsepe Foundation comes to PSL's rescue

The Motsepe Foundation has come to the rescue of the Premier Soccer League (PSL) following the withdrawal of GladAfrica as the sponsor of the national second division.

At a press conference held in Sandton on Friday, Dr Patrice Motsepe announced a groundbreaking partnership between his foundation and the PSL, which will see the birth of the Motsepe Foundation Championship.

This will take effect immediately, after the previous title sponsors pulled out abruptly due to financial constraints, understandably brought upon by the Covid-19 pandemic.

"It's because of the market conditions that they are downsizing, and they are not able to cope with the sponsorship going forward, and next week we were supposed to release the fixtures [for the 2022/23 season]," explained PSL chairman Dr Irvin Khoza.

? EXPLAINED ?@OfficialPSL chairman Dr Irvin Khoza has explained why GladAfrica have pulled their sponsorship of the First Division, which will now be known as the Motsepe Foundation Championship. ?#SABCSportFootball pic.twitter.com/I9uwrOOuyH

” SABC Sport (@SABC_Sport) July 1, 2022

The departure of GladAfrica comes just two years into their five-year partnership, which was due to run until 2024.

Motsepe, who is also the president of the Confederation of African Football (CAF), further explained that he received a call from the League's boss on Thursday, alerting him of the issue they are faced with - just over a month before the new season is meant to kick-off - he felt obliged to take up the mantle at short notice.

The Motsepe Foundation will now continue to extend its hand for the next five years until 2027, while issues such as prize money and monthly grants for the 16 clubs are still to be ironed out by the PSL Executive Committee.

Other considerations include a youth mandate, which could see the quota of under-23 players amended to ensure more youthful players contest in the league.

By Chad Klate