Richards Bay FC chairman Sifiso ‘Jomo’ Biyela recently shed light on the club’s lucrative new sponsorship deal with Phakwe Gas, clarifying the financial details amidst some initial confusion.
The DStv Premiership club made headlines with a substantial financial injection from Phakwe Gas, amounting to R100 million.
This announcement marked a significant milestone for the team’s financial stability.
Addressing media queries following the sponsorship launch, Biyela detailed the specifics of the deal.
While the total sponsorship amounts to R100 million over three years, the club will receive R20 million annually.
This totals R60 million directly allocated to the team’s operational expenses over the sponsorship period.
The remaining R40 million from the sponsorship will be earmarked for crucial infrastructure developments.
Biyela emphasized the importance of these funds in enhancing the club’s facilities, including training grounds and gym facilities.
Biyela’s Clarification
“We want to clarify that the R100 million sponsorship is structured as R20 million per season over three years,” Biyela clarified.
“This means R60 million directly benefits our operations, while R40 million will go towards building essential facilities.”
Future Plans
Looking ahead, Biyela expressed optimism about the club’s future with the support of Phakwe Gas. “With R20 million allocated per season, we are well-positioned to strengthen our team and facilities,” he added.
“This partnership marks a new chapter for Richards Bay FC.”
New Signings and Developments
In addition to the sponsorship news, Richards Bay FC also unveiled several new signings, signaling their intent to bolster the squad for upcoming seasons.
This partnership with Phakwe Gas not only secures financial stability but also underscores Richards Bay FC’s commitment to growth and development within the Premiership.
TDPel Media
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