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Wednesday, 10 July 2024 17:15

Richards Bay FC unveils R100 million sponsorship deal.

By Lehlohonolo Lehana.

Richards Bay chair Jomo Biyela, right, and Phakwe Gas CEO Thabiso Tenyane at the sponsorship announcement, July 10 2024. Picture: Richrds Bay.

Dstv Premiership side Richards Bay Football Club have signed a new sponsorship deal with Phakwe Group.

On Wednesday, the club unveiled a deal to the tune of R100 million. 

Club chairman Jomo Biyela revealed that the club will only get R60-million from the deal while the other R40-million will be used to uplift the community of Richards Bay.

"R20-million per season goes straight to the sponsorship, which is 60 (R60-million) and 40 (R40-million) is the amount that we want to utilise [for community upliftment]," Biyela said.

Obviously, it won't come to the club, I think we must clarify that before you say I'm walking around with R100-million. It's R20-million per season, over three seasons. The R40-million is the amount that we want to use to build sports facilities, a gym…just like a village. [The R40-million] It’s budgeted for us, but we'll only get the R20-million per season as the club," added Biyela.

Phakwe executive chair and CEO Thabiso Tenyane said they went with the Natal Rich Boyz because his company was planning a multibillion-rand gas project in Richards Bay over the coming years.

"It was intentional from the background that I will be doing a big project of gas to power in Richards Bay. Before I commit to go to schools, this was the best vehicle. When they went to the play-offs, I told them they will miss out on an opportunity if they get relegated.  

Richards Bay finished the season in 15th spot last season and they had to save their top flight status through the relegation/promotion playoffs.

The club have also announced new six signings including former Kaizer Chiefs midfielder Siyethemba Sithebe.

Also joining the Natal Rich Boys are Thabiso Kutumela, Keagan Allan, Tlakusani Mthethwa, Fezile Gcaba and Sbani Mntungwa.