Bafana Bafana and Banyana Banyana kit sponsor Le Coq has filed for bankruptcy, but it will not affect the sponsorship of the national football teams according to reports.
The French apparel company has been placed in a six-month financial observation period in Paris, but the South African division and its operations will remain unchanged.
Le Coq made a deal with the SA Football Association (Safa) in 2020 to sponsor the national teams until after the 2026 Fifa World Cup.
Betway Premiership outfit Stellenbosch FC also has its kit sponsored by Le Coq and similarly will not be impacted.
No cause for concern
LE Coq sales director Roger Noades spoke to TimesLIVE on Tuesday when he made the assurances.
“You have to understand French law, [where] if you say they're bankrupt their chapter 11 is something very different. South Africans don't understand [the French] chapter 11, but it is similar to restructuring a business,” Noades said.
“Pre-Covid-19 I think the French office went out and spent millions of euros on the Olympic Games and brought fantastic coverage for the French flag. Then they had French rugby, but I think, yes, there were some outstanding payments to people. I think at the end of January they will have another important meeting and another one at the end of February.”
The Bafana, Banyana and Stellenbosch replica jerseys retail to the public for R999 on the Le Coq SA website.
Noades continued: “Don't get me confused with the trouble the French are going through because I've got 53 retail shops in South Africa and in November and December I was 40% up on sales. So, I'm happy.
“Everything is 100% [with the deal with Safa]. Not just Safa, but also with Stellenbosch FC. Everything is hunky-dory.”
Bafana are next in action at home on March 17 when they take on Lesotho in their Fifa World Cup qualifier in Group C. They will then travel to Benin a week later in their sixth game of the group stage.