Kaizer Chiefs legend McCarthy surprised as Absa sponsorship ends with PSL

Kaizer Chiefs legend Fabian McCarthy has backed the Premier Soccer League (PSL) to find a new headline sponsor.

This comes after the PSL announced their sponsorship relationship with Absa will come to an end when their contract expires at the end of the current season.

The coronavirus pandemic has led to the suspension of the season since mid-March 2020 and the PSL is working with the South African Football Association (Safa) to ensure that the campaign resumes and it is completed.

However, the PSL has now been dealt a blow with Absa set to end their 16-year partnership and McCarthy said the announcement has come as a surprise.
 
"It's a tricky one, but I am sure the PSL management is already planning for life without Absa," McCarthy told Goal.

"PSL is definitely negotiating with potential new sponsors about replacing Absa, but this has come as a bit of a surprise to me.

"It will take some time before we get used to life without the bank as the main sponsor because the league has been known as the Absa Premiership for a long period of time."

The PSL has been getting R100 million from Absa per year since signing an initial R500-million sponsorship deal in 2007.

Rumours indicating the PSL could lose Absa as their main sponsor emerged in January 2020 with the bank said to be struggling. 

"One thing for sure, the PSL leadership is already working hard to ensure that a new sponsor comes on board ahead of next season."

The 43-year-old explained that it is imperative for PSL to secure a new headline sponsor after losing the banking giant.

"It would be difficult for the league to operate without a sponsor. The competition would not run smoothly as it has been with Absa sponsoring it," he added.

"The players, coaches and everyone associated with the PSL should show their gratitude to Absa for being such an amazing sponsor [in the last 16 years]."

Prior to their partnership with Absa, the PSL had South African Breweries as the league's title sponsor with the competition known as the Castle Premiership.