As the 2024 TNM Super League rolls into life this afternoon, Super League of Malawi (Sulom) has disclosed that the country’s elite league is valued at K1.3 billion.
This comes a few days after the league governing body secured K260 million sponsorship from Premier Bet as another official partner for the league.
However, the valuation also comes as TNM plc, official sponsors of the league, are yet to announce a new package for the 2024 season.
Last year, Sulom and TNM signed a three-year contract worth K450 million for a period of three years,-translating to K150 million per season.
Sulom President Gilbert Mittawa told Times Radio that the league runners requested the sponsors to consider increasing the package to K500 million.
“We have had discussion with TNM and we requested 41 percent of the league’s value which is K500 million. Then, the sponsors promised to increase the package so we are keeping our fingers crossed,” Mittawa said.
TNM Plc has sponsored the league for 17 years now.
“The company has always been with us and we really appreciate their sponsorship,” he said.
TNM increased the sponsorship from K90 million to K150 million per season. The company also increased prize money for the teams and individuals.
Last season, Bullets pocketed K40 million as champions, up from K15 million.
Football Association of Malawi (Fam) President Fleetwood Haiya during the prize presentation of the 2023 season in Blantyre in January this year said the association expects the sponsors to consider the K500 million threshold when adjusting the package for this season.
However, reports indicate that TNM is unhappy with Sulom for welcoming another partner without consulting them.
But TNM Brand and Communications Manager Limbani Nsapato told our sister paper The Daily Times that there is no standoff between them and Sulom on the matter.
“As for the unveiling of the new package, we did not set a fixed date,” he was quoted as saying.
Mittawa said Sulom will continue to look for more partners for the league.
Sports analyst George Kaudza-Masina said valuing the league is positive development.
“Of course, Sulom should be realistic when it is valuing the league. Does the value correspond with the money Sulom gets from sponsorship and other revenues? All in all, it is good to value the league because you set the standards,” Masina said.
The partnership between Sulom and Premier Bet is for a period of one year.
Through the partnership, each of the 16 clubs will get K10 million. On top of that, K5 million will go to clubs for Premier Bet (optional) branding and team of the month will get K1.1 million.
There are also individual awards as best player of the month and coach of the month will pocket K200,000 each. Journalist of the month will get K100,000.
