PSL chairman Dr Irvin Khoza revealed at a press conference on Wednesday that next year’s league champions will earn R15 million in prize money, while also announcing an Absa initiative to help the players manage their money.

The announcement came at the PSL head offices where Khoza revealed that the PSL prize money would be changing for the first time in ten seasons.

The winners of the 2019-20 Absa Premiership champions will get a R5 million increase on season’s gone.

‘The stakes are going to be even higher. The Absa Premiership champion will this season earn a whopping R15 million. Yes, you’ve heard me right – R15 million, ladies and gentlemen,’ said Khoza.

‘This is a 50 percent increase on the current prize money of R10 million. The sponsorship and PSL had to crunch the numbers to ensure that this is possible,’ he added.

Khoza also spoke on the growth of the league and the hope that the increase in prize money could help inspire a number of clubs to aim for league honours this coming season.

The increase will also be filtered down the rest of the league, meaning all the clubs competing in the top flight will receive an increase in prize money no matter where they finish.

The chairman also revealed that league sponsors will be offering a money-management plan not only to players but to all staff members within the respective clubs as well as PSL employees.

The initiative is aimed at helping players to secure their financial future after years of players mismanaging their funds.