RugbyU: Springbok Deal Eases South African Cash Crisis

PRETORIA, June 9, (APP - UrduPoint / Pakistan Point News - 09th Jun, 2017 ) - Cash-strapped South African national rugby body SAR got a boost Friday with a three-year sponsorship of the Springboks by a international mobile telecommunications company.

The MTN logo will appear on the national team jerseys for the first time Saturday in a season-opening Test against France at Loftus Versfeld stadium in Pretoria. No financial details of the sponsorship were announced when the deal was disclosed during the traditional pre-match team photograph.

Media speculation said the deal could be worth about 25 million rand (about $1.

95 million, 1.75 million Euros) a year. The previous sponsors of the Springboks, one of the four major South African banks, was reportedly worth about 70 million rand a year.

SAR announced a loss of 23.3 million rand last year. "It has been a tough couple of years from a financial perspective for SAR," admitted chief executive Jurie Roux at the announcement. "Our challenges remain, but this partnership marks the crossing of a watershed for SAR." South Africa and France are playing a three-Test series with the other fixtures in Durban (June 17) and Johannesburg (June 24).