Nedbank and the ANC Youth League cleared the air on Friday over sponsorship and transformation, both said in statements.
The league, which at one point threatened a boycott of the banking group, said that the two ”reached common ground on critical issues”.
They met after Nedbank’s withdrawal of sponsorship for a series of road races was perceived by the league to be a reaction to
Athletics SA’s handling of the 800m medalist Caster Semenya’s gender verification tests.
Nedbank said that its CEO Tom Boardman confirmed that Nedbank’s ASA sponsorship was for road running only, and that Nedbank was not involved in track and field sponsorship.
”He made it clear that Nedbank’s discussions with ASA regarding organisational performance related to issues of road-running events commenced during October 2008,” a statement said.
The formal agreement to change the end date of the current contract with the ASA to November 2009 was finalised and signed in July 2009, before the Berlin World Athletics Championships, where
Semenya’s win was disputed due to questions about her gender.
At the time of the Berlin Games, Nedbank was waiting for a response from ASA on an alternative sponsorship contract, and subsequently suspended these negotiations pending the resolution of the contract terms.
It said that the league’s president Julius Malema had said it now ”fully understood” Nedbank’s position and acknowledged that the sponsorship was a matter entirely between Nedbank and the ASA.
”He expressed the hope that Nedbank would be able to continue sponsoring road running once the ASA had got its house in order. Boardman confirmed that Nedbank remains committed to road
running in South Africa.”
The bank also, in the spirit of ”walking together” undertook to help find ways to further support the development of deserving athletes.
The league said: ”The ANCYL and Nedbank reached common ground on critical issues, particularly the following: Nedbank has undertaken to engage with other South African corporates and
government to find ways to further support the development of deserving athletes.”
It was satisfied that Nedbank had shown commitment to sponsor sports development in South Africa and heeded their call that corporate South Africa should sponsor the [International
Association of Athletics Federations] world championships medalists.” – Sapa