Dynamos and Highlanders to lose $1 million as BancABC blocks new sponsors

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Dynamos and Highlanders Football Clubs are set to lose $1 million dollars in sponsorship as BancABC has reportedly blocked the two clubs from signing new sponsors. BancABC is the principal sponsors of the two clubs. The country’s second largest mobile network operator NetOne wanted to sponsor both clubs after failing to sponsor the Premier Soccer League when the PSL renewed their contract with Delta Beverages. Netone wanted to give the two clubs $500 000 each.

A letter sent by BancABC to the two clubs reads:

Whilst Section 3.4 of our contract agreement states that the Bank will not preclude Dynamos FC from appointing any further non-competing sponsors/suppliers, it’s important to ensure that the exercise by a third party sponsor of any sponsorship rights and/or benefits granted to it by Dynamos FC does not derogate from the sponsorship rights granted to BancABC as stated in Section 3.4.3 of the contract between BancABC and Dynamos of January 2017.

May you please provide the draft contracts and names of potential sponsors before signing

More: Herald

 

DynamosHighlanders Football ClubNetOne

Dynamos Football Club is a Zimbabwean based professional football club which plays in the Zimbabwe Premier Soccer League. It is arguably the most decorated football club in Zimbabwe. The club has won several accolades locally, and has performed at various international tournaments and commands a... Read More About Dynamos

Highlanders Football Club popularly known as Bosso is one the oldest football clubs in Zimbabwe which was formed in 1926 and is based in Bulawayo.Its current coach is Erol Akbay and Barbourfields Stadium is the home ground of the team. The team has so far... Read More About Highlanders Football Club

NetOne Zimbabwe was the first mobile phone operator in Zimbabwe, the company was launched in 1996. The company is a privately owned company in which the Zimbabwe government has a stake and was formed as a subsidiary of the Posts and Telecommunications. Corporation (PTC). Service... Read More About NetOne

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3 comments

  1. Anonymous Reply

    What a gesture but NetOne has not paid up it’s license fees in full and it owes money to other networks in terms of interconnection fees. Has I made a profit NO and it keep pilling it’s obligations.

  2. Anonymous Reply

    Netone please use that money to better your service than sponsoring soccer aaaa

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