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Absa to part ways with Safa

The financial institution says there will be no contract extension with Safa.

Safa.

JOHANNESBURG - South African Football Association (Safa)'s woes are far from over.

The latest challenge follows an announcement made by Absa that it will not extend their contract beyond the end of 2013.

The financial institution's deal with the association expires in December 2013 and they have opted not to extend the deal.

The news also means that their sponsorship with Bafana Bafana will end.

The loss of the Absa as a sponsor comes hardly a month after Danny Jordaan was elected as Safa president.

Absa had been working alongside Safa since 2007 and the decision to part ways follows 'a review of Absa's business and brand objectives, according to a statement from the institution read.

Bobby Malabie, Barclays Africa group executive, added. "Since our involvement with Bafana Bafana started in 2007, we have seen the game extend across racial and cultural barriers and we have engaged the passion of thousands of soccer fans across the country. Being an integral part of the successful 2010 FIFA World Cup journey was a proud occasion for us and for all South Africans."

"This has been a fruitful partnership for us and we look forward to remaining involved in the development and welfare of soccer in South Africa. We thank Safa for the opportunity and wish them and the Bafana Bafana team well in all future activities," added Malabie.