The Premier Soccer League (PSL) chairman Dr. Irvin Khoza has announced that the National First Division (NFD) has a new sponsor and the 2019/20 champions are set to pocket R3 million.
The PSL boss revealed the new development on Thursday in Kempton Park, explaining that GladAfrica will sponsor the NFD for the next five years commencing in the new 2019/20 season.
"We are naturally pleased and appreciate GladAfrica's visionary leadership's recognition of the strategic fit in anchoring a developmental football property that the National First Division is. GladAfrica is in the building environment," said Khoza to the media.
Khoza made the announcement during a Board of Governors’ meeting on Thursday, adding that the NFD will now be called the GladAfrica Championship.
In addition, under the new five-year deal, the NFD champions will get R3 million, the runners up will receive R1.5 million and third place will get R1 million.
Meanwhile, the Orlando Pirates chairman also announced that the GladAfrica Championship matches will be shown on television.
The announcement comes after the 'Iron Duke' stated that they are not looking at bringing in more sponsors for the top tier.
Khoza announced in June that the 2019/20 PSL Champions are set to pocket a staggering R15 million, signalling a significant improvement from R10m which has been the prize money for the past 12 seasons.
— Official PSL (@OfficialPSL) August 1, 2019