The Premier Soccer League (PSL) has announced that MTN South Africa will become the new sponsors of the Top Eight competition this season.

MTN, which replaces South African Airways as the competition sponsor, have named the competition the MTN 8 and have put down an R8-million winner-takes-all prize.

"Since the inception of the Top 8 in 1972, we have seen the birth of many legends and some truly memorable matches," said PSL Chairman Dr Irvin Khoza.

He added: "This year, with the exciting innovations introduced by PSL and the new sponsor MTN, I feel that the competition will be fiercer than ever before and I am certain there are no favourites.

"Congratulations to MTN and welcome to the family of professional soccer sponsors."

Chief Marketing Officer of MTN SA, Pieter Verkade, revealed the winner will take away R8-million in prize money, adding that each team will receive R800 000 for merely participating in the tournament.

"As the only African global sponsor of the 2010 FIFA World Cup South Africa, MTN has shown its passion for football.

"Through the MTN 8 competition we are taking that passion and giving South African football fans the opportunity to see the best clubs in the country competing for the lucrative R8 million winner-takes-all prize. Wafa Wafa! (loosely translated as ‘last man standing’)," concluded Verkade.

The MTN 8 will kick off on Friday, 8 August with a match between Orlando Pirates and SuperSport United at Loftus Stadium.

On Saturday, Moroka Swallows will host Ajax Cape Town, while Kaizer Chiefs will take on Santos that night.

Mamelodi Sundowns will face Free State Stars in the last quarter-final match on Sunday afternoon.

2008/09 MTN 8 quarter-finals draw:

Friday, 8 August: Orlando Pirates v SuperSport United

Saturday, 9 August: Moroka Swallows v Ajax Cape Town Kaizer Chiefs v Santos

Sunday, 10 August: Mamelodi Sundowns v Free State Stars