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Stanbic Bank Uganda has been the title sponsor of the Uganda Cup competition since 2017 and has injected over UGX 300 million into the competition, with the financial institution injecting UGX 180 million into the tournament as prize monies.
Negotiations between the Federation of Uganda Football Associations (FUFA) and Stanbic Bank Uganda for the renewal of their contract for the Uganda Cup sponsorship have hit a roadblock.
The issue at hand is the valuation of the sponsorship package, with both parties failing to agree on its worth during their initial negotiations, according to insider information.
Stanbic Bank Uganda has been the title sponsor of the Uganda Cup competition since 2017 and has injected over UGX 300 million into the competition, with the financial institution injecting UGX 180 million into the tournament as prize monies.
However, as negotiations for the renewal of the contract continue, FUFA believes that the value of the sponsorship package has increased due to more games being broadcasted on TV.
Stanbic, on the other hand, has a different valuation, leading to a disagreement between the two parties.
This stalemate in negotiations is not particularly a cause for concern this early in the negiations, with Stanbic said to be willing to continue sponsoring the tournament.
The difference in valuation has made it difficult to reach a mutually beneficial agreement with the current contract is set to expire at the end of the current season
Despite the impasse in negotiations, FUFA is open to listening to offers from other potential sponsors.
The Uganda Cup competition is currently at the quarterfinal stage, which return throughout this week.
Holders BUL FC face second division side Police FC on Wednesday at the Kavumba Recreation Grounds in Wakiso.
Last season’s runner up Vipers will host Calvary FC at the St. Mary’s Stadium in Kitende on Friday, while Adjumani TC will welcome joint record winner Express on Saturday.
The other quarterfinal will be between Soltilo Bright Stars and KCCA FC on Sunday at Kavumba Recreation grounds.
Stanbic Uganda Cup Quarter Finals:
Police FC vs BUL FC – Kavumba Recreation Grounds, Wakiso
Vipers SC vs Calvary FC – St. Mary’s Stadium, Kitende
Adjumani TC vs Express FC – Paridi Stadium, Adjumani
Soltilo Bright Stars vs KCCA FC – Kavumba Recreation Grounds
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