PSL signs new five-year sponsorship deal with Absa for R500 million

Banking Group Absa celebrated their 10-year association with the Premier Soccer League (PSL) by renewing their relationship for another five years on Monday.

The original deal between the two parties in 2007 was worth R500 million and PSL chairman Irvin Khoza said they have renewed their sponsorship for the same amount.

 "This is remarkable‚ especially  in this tough economic climate‚" Khoza said on Monday.

The sponsorship renewal comes just days before the start of the new premiership season.