Football Kenya Federation President Nick Mwendwa has issued the details of the five year Sponsorship for the top tier league.
Confirmation of this deal comes a day after Mwendwa announced on Twitter that they have secured the Sponsorship from a Nigerian Betting Company.
The Ksh12 million Dollars partnership starts at Ksh 220 Million in the first year, and will increase by 5% in the second year, and 10% in the subsequent years.
Speaking at the Federation’s head quarters the president said that despite each team getting close to Sh.8 million each year from the Sponsorship the Federation will forfeit the license fee due to the Federation from the amount and the proceeds which are approximately Sh.12 million will be used to fund the Women’s Premier League.
The league will be renamed the Betking Premier league and it will commence in the 2021 season after the Kenya Premier League mandate to run the league comes to an end in September.
According to Mwendwa the management of the League will be done by the Clubs and the Headquarters will be in Kasarani Goal Project.
This is good news for the local sport having struggled for two years after the exit of the Previous Sponsor Sportpesa who decided to quit the market citing government’s decision to impose a 20 per cent tax on all betting stakes, a move that the firm cited as damaging on customers.
He also announced that all the Premier League matches will be sold online at Ksh 200 and the Revenue will go to the clubs.