Spurs to miss out on £42.5million financial windfall
According to a report from BBC News, the prospective sponsorship deal between Tottenham Hotspur and South African Tourism has been scrapped after MPs from the country look to investigate the controversy surrounding the arrangement. Tottenham were thought to have agreed a £42.5 million deal with the SA Tourism board last week (The Times). The three-year […]
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According to a report from BBC News, the prospective sponsorship deal between Tottenham Hotspur and South African Tourism has been scrapped after MPs from the country look to investigate the controversy surrounding the arrangement.
Tottenham were thought to have agreed a £42.5 million deal with the SA Tourism board last week (The Times). The three-year deal would have seen Spurs gain a new shirt sponsor on the sleeve of their kits, replacing the current partner, Cinch.
The sponsorship would have followed suit for other teams in the league, such as the deal between Rwanda and Arsenal as an example.
The agreement between South Africa and Spurs was set to begin in the 2023/24 season but was met with widespread controversy amid power shortages in the country. A report from the Sunday Times suggested the move would be opposed by ActionSA, a prominent political party in the country.
President of South Africa, Cyril Ramaphosa, was due to announce the deal during his State of the Nation addresses on 10 February 2023, but that will no longer happen according to the latest from the BBC as South Africa lawmakers have “scrapped” the arrangement.
Critics claimed the money “could be better utilised,” and as such, it appears the deal will be stopped immediately. Apparently, Tourism Minister Lindiwe Sisulu admitted she had “no knowledge of the proposed deal.”
Meanwhile, committee chairperson Thandi Mahambehlala said: “This deal, it ends here, today, now. Because there is everything wrong about the deal itself. There must be an investigation on this matter with immediate effect.”
As a result of the situation, the board’s acting chief finance officer will be removed from their position over alleged conflict of interests and irregular appointment.
(Photo by Tottenham Hotspur FC/Tottenham Hotspur FC via Getty Images)
Spurs Web Opinion
This does not sound good and is not a good look for Spurs at all. Sourcing lucrative sponsorship deals is all well and good, but we have to ensure we are doing so in an ethical and legal way. Whether it’s the SA Tourism board at fault here or the club, we have to be more careful in future.
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