Cricket South Africa is in talks with a potential new headline sponsor for the national team following confirmation that Standard Bank will stand down from the position in April. Acting CSA chief executive Jacques Faul told media at a digital press conference that the banking brand’s contract will expire on April 30 and will not be renewed.
The headline rights include branding on the Proteas’ shirts across Test, one-day international and Twenty20 formats of the game. The Standard Bank deal was worth between R70m and R75m (€3.6m/$3.9m) per year, from 2016 to 2020.
Faul said that the governing body is in advanced talks with a new headline sponsor, but that the Covid-19 pandemic has complicated matters. “We have been in conversation with a potential sponsor, but their world has also changed now, which is a bit of a concern, but that’s the reality of where we are now,” he said.
Standard Bank’s four-year headline sponsorship became mired in controversy last year due to the alleged misconduct of the then CSA chief executive Thabang Moroe across a number of areas, including player and media relations, and financial affairs.
The bank said in a statement released in December 2019: “Standard Bank is committed to upholding the highest levels of leadership, integrity and governance. In light of recent developments at CSA, which are a culmination of long-standing problems which have damaged Standard Bank’s reputation, it has decided not to renew its partnership with CSA,” Despite this statement, the CSA had reportedly remained hopeful the bank could be persuaded to stay under the CSA’s new acting chief executive.
Insurer Momentum agreed a four-year deal in February this year to be the main sponsor of the South African women’s national cricket team. The deal starts immediately and runs until the end of the 2023-24 season. The team will be referred to as the ‘Momentum Proteas’.
John Stephenson
john@cricketinvestor.co.uk
