The deal has not been formally announced by the PSL, although Nedbank’s head of sponsorships, Tobi Badenhorst, revealed that a new 5-year agreement has been signed while delivering a pre-recorded video message at the PSL awards ceremony earlier this week.
Nedbank first took sponsorship of the Nedbank Cup in 2008 at a value of R400 million over five years. The bank renewed its sponsorship in 2013.
The PSL’s communications manager Luxolo September confirmed that the deal has been signed. “We will make a formal announcement about that. But it’s an open secret that the negotiations are complete,” he said.