The Premier Soccer League is searching for a new sponsorship deal after the Absa South Africa’s decision to terminate their 16 year old relationship with the South African football.

Stan Matthews who is the CEO of the South African Football Association admitted that just like the football fans, the news left the clubs as worried.

Matthews added that everyone was worried about the current economic climate in South Africa and around the world.

The PSL also revealed that it is extremely sad to see the Absa sponsorship deal coming to an end after over a decade of great partnership.

Stan Matthews also said Absa’s contribution to the South African football has been immense therefore there is need to reflect on it with gratitude and appreciation.

He however refused to comment on reports that South African billionaire Patrice Motsepe is the next sponsor of the PSL.