How much FNB and MTN are paying to sponsor the Springboks

SA Rugby announced a major new sponsor for the country’s national team, the Springboks, in the form of financial services firm FNB.

FNB has agreed a three-year partnership which will see the bank’s logo appear on the back of the Springbok jersey above the playing number.

It is understood that the contract will be worth R20 million a year to SA Rugby until 2020.

The partnership was launched at Montecasino at Fourways in Johannesburg on Monday and follows the headline sponsorship deal mobile operator, MTN, signed with SA Rugby earlier this year valued at a reported R50 million annually.

SA Rugby said that the latest deal brings to five the number of major new partners to join the Springbok and SA Rugby since the start of the year, following the departure of Absa early in 2016, and a R90 million “hole in the budget”, according to City Press.

FNB’s name will appear on the Springbok playing jersey for the first time in the Castle Lager Rugby Championship Test against Argentina in Port Elizabeth on 19 August 2017. The bank already sponsors the FNB Varsity Cup and FNB Varsity Shield competitions.

Read: Vodacom walks away from Springbok sponsorship as MTN steps in