Sport Industry Group

ABSA set to take Springboks shirt sponsorship deal- 19 Aug 2010 00:00:00

Speculation is rife that financial services firm ABSA is to become the new shirt sponsor of the South African national rugby team after agreeing a deal with governing body SARU to replace SASOL which announced last month it would not be renewing its association.

ABSA, which sponsors South Africa’s premier domestic rugby competition, the Currie Cup, is believed to have emerged victorious in a bidding war with Vodacom and SAB to net a deal worth between R60m and R65m.

According to reports, the Springboks will wear the ABSA logo when competing in South Africa, but will wear ABSA's international brand, Barclays, when playing overseas.

SARU’s strategic communications manager, Andy Colquhoun, refused to confirm the deal saying: ‘We are still in the market. Nothing has been finalised yet and an announcement will only be made once a deal is signed.’

SASOL’s sponsorship investment since November 2004 totalled R150m, ranging between R20m and R27m a year, but after SARU raised the price, the firm decided against renewing its contract.