This investment will be capped with an additional R19 million for Cricket South Africa (CSA) development projects, totalling the financial commitment at R125 million.
Under the new sponsorship agreements, Standard Bank will be the sole sponsor of the South African One Day International (ODI) team; has renewed the rights to the Standard Bank Pro-20 Series; and will make a new investment in the international Pro-20 format.
In addition, Standard Bank has renewed their contract for the ODI Event and the domestic Standard Bank Cup for the 2005/6 season.
Speaking at a media conference in Johannesburg, Sarah-Anne Orphanides, Group Marketing Director of Standard Bank, says: "Standard Bank has been a sponsor of Cricket in South Africa for the past nine years, beginning with the sponsorship of limited overs cricket in 1996. This contract is an extension of our commitment to building South Africa's cricketing future and ensuring investment in the development of future players.
"Standard Bank uses the alignment to the Proteas Team as a way of building and strengthening relationships with our customers. The positive associations resulting from a shared passion with our customers for a winning national team assists us in building the Standard Bank brand.
"With the recent selection of four SA players for the World Series XI, the recognition of three SA players at the 2005 ICC Annual Awards, and the build up to the 2007 Cricket World Cup in the West Indies, there is no doubt that the one day game in South Africa remains strong, well supported and an excellent marketing and sponsorship vehicle for Standard Bank."
The increase in Standard Bank's investment in the Standard Bank Pro-20 Series was encouraged by the run-away success of the format amongst local cricket fans, and its role in the transformation of the domestic professional game.
Part of the new three-year sponsorship package is a new investment in the international twenty-over format, which aims to capitalise on the success of the domestic Pro-20. South Africa's inaugural international Pro-20 match is to be played against New Zealand in October 2005.
Khanyi Mlambo, Director Group Sponsorships, adds: "The Pro-20 competition adds another dimension to one-day domestic cricket in South Africa and has become a valuable extension of our long-standing one-day cricket sponsorship portfolio. We anticipate a very positive response from the cricket loving public to the international era of Pro-20 cricket in South Africa."
CEO of Cricket SA, Gerald Majola says: "This investment is a mighty vote of confidence in the game. By including development in its sponsorship, Standard Bank has set an example to South African commerce and industry by supporting the capacity building of our youth through cricket.
"Winning at the top only comes through developing the roots, and Standard Bank is to be applauded for doing both."
