Steinhoff split as sponsors of Maties

Cape Town - It’s been confirmed that Steinhoff will no longer sponsor the University of Stellenbosch’s sports teams.

Steinhoff had sponsored Maties Sport, which included the rugby, hockey and cricket teams.

Martin Viljoen, a spokesperson for the university told Netwerk24 that they were busy identifying potential new sponsors.

This follows the recent announcements that Steinhoff had parted ways with SA Rugby, as well as the Varsity Cup rugby competition.

Steinhoff’s separation with SA Rugby means the Springbok men’s, women’s and SA Rugby Sevens Academy teams will no longer carry the company’s logo.

The Varsity Cup starts on January 29, which means Maties will likely enter the competition without a sponsor.

The share price of Steinhoff plummeted towards the end of last year after financial irregularities within the organisation forced CEO Markus Jooste to step down.