The Scottish Premier League (SPL) has announced the signing of new sponsorship deals, with a prize money increase of 30%. This comes after the league's financial crisis and is seen as a positive development for the sport.

The deal was announced by the SPL's chief executive officer, David Hogg, who said: "We are delighted to announce this agreement with a leading sponsor in the sports industry, which will provide us with a significant boost in our financial position."

The new sponsorship deal will see the sponsoring company pay up to £1 million per season, with the winner receiving a prize of £2 million. The scheme is aimed at attracting more investment to the league and creating greater value for fans and supporters.

However, the announcement also comes with some criticism from some fans and supporters who feel that the prize money should be higher than what they have been paying. Others argue that the new sponsor could be too large and potentially dilute the identity of the league.

Despite these concerns, the new sponsorship deal seems to be a positive move for the SPL, as it provides a strong financial boost to the league and helps to attract new investors. However, it remains to be seen how successful this deal will be in terms of increasing fan engagement and supporting the league's goals.