FKF reacts to SportPesa pull out

ShareClose Comments
FKF are set to lose Sh120 million in annual revenue in sponsorship from the deal

Football Kenya Federation president Nick Mwendwa has termed the SportPesa withdrawal from Kenyan sport as a big blow to the local sports.

The gaming company on Tuesday cut their engagements in all sponsorship deals following a recently introduced Finance Bill 2017 which raised the tax rate on betting, lotteries and gaming activities to 35 percent.

“It’s a big blow to football development and sports in general, owing to that SportPesa also sponsors other fields. Unfortunately, it is the position we find ourselves in, we, however, remain optimistic that a solution to the same will be reached in good time,” said Mwendwa in a statement. 

“We support the government’s proposal to introduce a uniform tax across board on betting, lottery, gaming, and competition industry but also feel that it is important to acknowledge the growth of sports marketing as an industry and acknowledge that worldwide the private sector plays a big role in developing sports outside what is considered national assets such as the national, youth and women’s teams. 

“It is, therefore, our strong feeling that the implementation of the proposed Sports Fund should not curtail the unprecedented growth and beneficial sports sponsorship drive undertaken by the betting, gaming and lottery enterprises,” explained the FKF president.

Mwendwa said that FKF will be engaging the government to try and reach a win-win situation for all parties involved and further discuss the best way to manage sports sponsorships.

Article continues below

FKF who are set to lose Sh120 million inannual revenue in sponsorship from the deal.

  

 

Next article:
Sanchez's Man Utd tour arrival delayed by administrative issues
Next article:
Tigres coach Tuca Ferretti not interested in Mexico national team job
Next article:
Sarri needs 'one or two changes' to bring style to Chelsea
Next article:
Ahmed Musa battles Ronaldo, Messi, Modric, others for Russia 2018 Word Cup Goal of the Tournament
Next article:
Transfer news & rumours LIVE: Chelsea enter Milinkovic-Savic race
Close