Zimbabwe’s football controlling body Zifa has struck another multi-million dollar sponsorship deal that will see the country hosting a new competition called the Robert Mugabe Afro-Asia Intercontinental Tournament every year for the next eight years.
by Kevin Mapasure
Zifa president Phillip Chiyangwa yesterday signed an agreement with Total Sports Marketing (TSM), represented by chief executive officer Moinul Chowdury, for the hosting of the international tournament which involves amounts ranging from $40 million to $100 million between now and 2023.
The two parties are targeting an eight-team competition, but they might also settle for a four-team tournament which Zimbabwe could choose to host in another country, but with the country still benefiting from the television and hosting rights.
Zifa president Phillip Chiyangwa (left) and TSM chief executive officer Moinul Chowdury during the signing ceremony in Harare yesterday.
If they settle for a four-team tournament, the value of the whole deal will be $40 million, but if they go for an eight-team tournament it will be worth between $80-$100 million.
The deal will be worth about $5 million per year and Zifa are set to retain almost half of that every year, while they will also get $500 000 for junior development and the same amount for running their soon-to-be-established academy.
An elated Chiyangwa yesterday disclosed at the signing ceremony that they had already got clearance from Caf and Fifa for hosting the tournament and had started engaging nations that could come in for the inaugural competition that is set for between June and July this year.
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Half of the teams will be drawn from Africa, while the other half of whatever number they will settle for will come from Asia.
“We are very excited about this new deal that we have struck with TSM and we are very grateful to the company’s chief executive officer whom we have been working with all along to come to this end,” Chiyangwa said. “We are also grateful to the President [Robert Mugabe] for allowing us to give the tournament his name. This deal will have lots of benefits for us as Zifa and the country. We are guaranteed lots of revenue and it will help us develop our football.”
Chowdury said that after his involvement with Zimbabwe Cricket (ZC), where his company has some of the TV rights to the national team matches, it was easy for them to extend their business to football.
“At first when we came in we were very sceptical, but after doing business with cricket we have seen that Zimbabweans are great people to work with,” Chowdury said. “This deal is beneficial to both parties and the good thing is that the way we structured it is such that by the time we get to eight years, we would have developed the game in the country. Zifa will also benefit financially.”
The deal guarantees the Warriors the much-needed game time against top opposition as Zifa and TSM are targeting top football nations on both continents.
During the proposed period for the running of the tournament, the European season will be on a break and that will allow teams from both continents to bring in their best players.
While the tournament is mainly targeted to be hosted in Zimbabwe, there is a possibility that the two parties might decide to take it elsewhere in the future, but that will not diminish Zifa’s benefits.
TSM will benefit from the broadcasting rights of the tournament every year.
Chiyangwa said they had entered the deal with confidence after realising the success the company had made dealing with ZC.
“They have been supporting our cricket and I must say since they came in development structures have improved, so we thought they could also help us develop football. It’s a good deal for both parties and there is good value in it for us both financially and for the development of our game.”
Last year, ZC extended its relationship with TSM by another eight years.
