MultiChoice Sells SuperSport United FC Amid Deepening Revenue Crisis in Nigeria and Other African Markets

MultiChoice, Africa’s leading pay-TV provider, has announced the sale of its Premier Soccer League (PSL) team, SuperSport United FC, in a major move to restructure operations and manage severe financial losses across the continent especially in Nigeria, its largest market outside South Africa.

On Thursday, MultiChoice confirmed that SuperSport United FC has been sold to Siwelele Football Club (Pty) Ltd., pending final approval from the PSL Executive Committee.

The decision, according to SuperSport CEO Rendani Ramovha, is part of a broader strategy to keep the broadcaster financially stable and competitive amid declining revenues and subscriber numbers.

Ramovha stated that shifts in market dynamics and the need for innovation have pushed the company to focus on its core broadcasting operations, describing the club sale as necessary for sustainability.

Siwelele FC chairman, Calvin Le John, called the acquisition an honour, promising to build on the legacy created by MultiChoice and SuperSport over the past 30 years.

The announcement comes as MultiChoice grapples with a 44% drop in subscription revenue in Nigeria from $355.9 million in 2024 to $197.7 million in 2025.

The broadcaster blames inflation, currency devaluation, and mass subscriber losses for the downturn. Nigeria alone lost 1.4 million subscribers since March 2023, making up the majority of the 1.8 million total losses across the Rest of Africa (RoA) markets, including Kenya, Angola, and Zambia.

Nigeria’s economic challenges, including a 23.71% inflation rate and a naira depreciation of over 44% against the U.S. dollar, resulted in a $158 million foreign exchange loss for the company.

In total, MultiChoice’s subscription revenue fell 11% to $2.27 billion, with operating profit dropping 34% to $263.5 million and trading profit nearly halving to $228.1 million.

Despite these setbacks, the company saw growth in its digital services: DStv Internet subscriptions rose 85%, DStv Stream grew 48%, and Showmax increased its paying user base by 44%.

“While economic pressures have impacted our results, our teams continue to show resilience, and we are investing in long-term growth opportunities,” said MultiChoice Group CEO Calvo Mawela.

The sale of SuperSport United marks a turning point in MultiChoice’s efforts to streamline its business model and adapt to the changing media landscape in Africa, as traditional pay-TV faces increasing pressure from streaming services, piracy, and evolving consumer preferences.