The Scottish Premier League (SPL) has announced a major sponsorship deal with a leading global technology company, which will significantly increase the prize money for the league's top teams.
According to the agreement, the company will provide a 15% increase in prize money for the league's top teams over the next two years, bringing the total prize money to £2m per season. This is a significant increase from previous years when the scheme was introduced but only saw a 10% increase.
The new sponsorship deal comes after the league secured a record-breaking sponsorship from Samsung, which has helped it to attract more fans and generate increased revenue. The Samsung deal also includes the use of the team's logo on all merchandise and digital content produced by the club.
The Scottish Premier League has also increased the number of matches that will be played this season, with plans to double the number of games from 80 to 160. This will help to increase ticket sales and improve attendance figures.
However, there have been concerns about the potential impact of the sponsorship deal on the league's financial health. Some clubs have expressed concern that they may struggle to keep up with the growing costs associated with the new sponsorship, while others have suggested that the extra income could lead to increased spending on player recruitment and training.
Despite these concerns, the Scottish Premier League remains committed to increasing the prize money for the league's top teams and believes that the new sponsorship deal can help to achieve its goals.