news / Swallows News
The draw and the launch of the tournament, which will be known as the MTN 8, were both conducted in Johannesburg on Monday morning.
The 'Beautiful Birds' were represented by the legendary Sipho Xulu and new Brand Manager Siya Sangweni.
"Since the inception of the Top 8 in 1972, we have seen the birth of many legends and some truly memorable matches," said PSL Chairman Dr Irvin Khoza.
He added: "This year, with the exciting innovations introduced by PSL and the new sponsor MTN, I feel that the competition will be fiercer than ever before and I am certain there are no favourites.
"Congratulations to MTN and welcome to the family of professional soccer sponsors."
Chief Marketing Officer of MTN SA, Pieter Verkade, revealed the winner will take away R8 million in prize money, adding that each team will receive R800,000 for merely participating in the tournament.
"As the only African global sponsor of the 2010 FIFA World Cup South Africa, MTN has shown its passion for football.
"Through the MTN 8 competition we are taking that passion and giving South African football fans the opportunity to see the best clubs in the country competing for the lucrative R8 million winner-takes-all prize. Wafa Wafa! (loosely translated as 'last man standing')," concluded Verkade.