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Monday, 26 February 2001
Standard Bank renews its cricket sponsorship
Standard Bank has renewed its sponsorship of South African limited overs cricket for a further four years until the end of the 2004/2005 season. The bank has also announced a R5 million 2003 World Cup incentive.
New sponsorship agreement
The bank’s sponsorship agreement with the United Cricket Board of South Africa includes all limited overs cricket played under the board’s auspices in South Africa – including international and inter-provincial competitions. Standard Bank will also continue as sole sponsor of the South African national limited overs cricket team, including the team participating in the 2003 Cricket World Cup.
Standard Bank’s current five year sponsorship of limited overs cricket concludes at the end of the 2000/2001 season.
Says John Bryant, Group Marketing Director at Standard Bank: "We are delighted to continue and expand our sponsorship of one day cricket. The sponsorship has worked extremely well for us over the past five years and we believe the UCB and cricket have benefited from our involvement. We are extremely proud of our association with South African cricket and particularly our sponsorship of our world class national team. This sponsorship has reinforced and rejuvenated our brand’s image and created loyalty among all South Africans.
"We’ve managed the sponsorship in a hands-on manner and have not been merely a cheque book sponsor. We have put a lot of effort into building and promoting the game. The rewards have been enormous and we look forward to a further four year partnership with this exciting game and its winning teams.
"Standard Bank is also fully committed to continue with its efforts to develop the game. Cricket development not only affects those who play the game, but also contributes to the development of our schools and communities."
Says Gerald Majola, United Cricket Board CEO: "The Standard Bank sponsorship means a lot to South African cricket and Standard Bank has become a true member of the cricket family. We are happy that the sponsorship has been extended and are looking forward to a fruitful working relationship over the next four years. Standard Bank has been integrally involved with the game and we know that this will continue.
"It was important for us that in the final negotiations we were all able to take cognisance of the needs of our provincial sponsors as well as the needs of Standard Bank. I believe we have struck a balance and are in a win-win situation for all concerned. The ground has been set for all of cricket to benefit from the sound partnership between the UCB and Standard Bank."
Standard Bank’s new sponsorship agreement includes R63 million in fees to the UCB for the sponsorship rights. This amount excludes broadcast sponsorships, the bank’s development programme, event management costs, marketing and promotional activities as well as players’ and officials’ apparel.
2003 Cricket World Cup
"The World Cup will be the most important event during our renewed sponsorship. We believe that winning a tournament of this prominence, on home ground, will have a positive impact on nation building and that’s why we want to do our bit to inspire the team to win," says Bryant.
Standard Bank has designed a lucrative incentive which will benefit the 2003 World Cup squad and cricket development. The bank will pay R1 million into a kitty for every one of five selected limited overs series the national team wins before the World Cup. The first series, which could earn the team R1 million, is the forthcoming tour to the West Indies. The other four selected series are: the series against India, two against Australia and the triangular involving Sri Lanka and Pakistan.
The team could accumulate R5 million in the kitty and if it wins the 2003 World Cup, 20% of the kitty (R1 million) will be donated to a designated development project and the remaining R4 million will be shared among the squad. However, if the squad does not win the competition but plays in the final, they will not walk away empty handed. The team will receive 30% of the R4 million kitty while 30% of the R1 million will be donated to cricket development.
"The R5 million kitty should be a huge incentive, not only for the team to win five of the forthcoming series and the World Cup, but also for players to ensure they are selected for the World Cup squad. The added incentive is that if they win, cricket development will receive a funding boost, " says Bryant.
Says Shaun Pollock, national team captain: "As a player, it is great to have a sponsor like Standard Bank behind you and the bank has really been a loyal supporter of our team. It is good to extend the sponsorship and the relationship. For us, it’s particularly good to have the World Cup incentive. We’ll be trying our best to win the World Cup - for ourselves, for our country, for our sponsors and for the people who can benefit from the development aspects of the incentive."
To coincide with its new sponsorship, Standard Bank has launched a new cricket development programme, aimed at making cricket more accessible to previously disadvantaged communities.
Although members of the national limited overs team will retain their current playing numbers on the back of their shirts, the bank has also initiated a new numbering system. Team members will have a unique player number assigned to them. These numbers, allocated according to when players were selected for the national limited overs team, will appear on their caps and shirt collars. For example, Shaun Pollock will be number 38 as he was the 38th player selected to play for the South African team and Alan Donald number 11, Jonty Rhodes 15 and Justin Ontong 65.
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