Cape Town City Fined R50 000 For Announcing FNB Deal Without PSL’s Approval!
Cape Town City Fined R50 000 For Announcing FNB Deal Without PSL's Approval! The Cityzens started the new campaign with a new shirt sponsor.
Cape Town City Fined R50 000 For Announcing FNB Deal Without PSL‘s Approval! The Cityzens started the new campaign with a new shirt sponsor.
Cape Town City unveiled FNB as their newest shirt sponsor ahead of the current season. The PSL has fined the club R50 000 for going through with the deal without their knowledge or approval.
According to PSL Prosecutor, Zola Majavu, the Mother City club were supposed to seek counsel and affirmation from the PSL before having a new shirt sponsor. This is because of any conflict of interest which may arise from having a particular shirt sponsor.
The club will pay R25 000 immediately and the other half has been suspended for two years.
“Cape Town City appeared before the DC to answer to charges of failing to obtain prior approval from the executive committee of the league before concluding a sponsorship agreement with a bank,” Zola Majavu spoke.
“They pleaded not guilty, however after arguments they were convicted accordingly. They were further sanctioned a monetary amount of R50,000, half of which was suspended for 24 months on condition that during that period they are not found guilty of the same offence.
“They were also directed to pay the costs of the DC — approximately R100,000, however the league will conclude those and forward them to City for payment.” He concluded.
The Cityzens are yet to provide any comment on the matter. Cape Town City Fined R50 000 For Announcing FNB Deal Without PSL’s Approval!
