R1 billion for Chiefs and Bucs
WHAT IS believed to be the biggest sponsorship in South African sports history was announced yesterday.
Vodacom will give Kaizer Chiefs and Orlando Pirates "plus-minus R1-billion" over the next five years, according to Pirates chairman Irvin Khoza.
The money will be split evenly, with each club getting about R100-million a year.
The new deal would dwarf even that between Absa and Castle for Bafana Bafana, which was made five years ago.
The beer company and the bank jointly gave the SA Football Association R500-million (R250-million from each company) which is up for renewal this year.
Yesterday's announcement was the renewal of a previous sponsorship agreement between the company and the two football clubs, which began 13 years ago.
The two clubs and the sponsor also jointly stage the Vodacom Challenge, an annual tournament to which an English Premier League team is usually invited.
Khoza said they wanted to invite top teams from Africa to the tournament again.