Its minister, Khairy Jamaluddin, was confident they would be able to get 10 companies who will each provide RM10 million sponsorship for the country’s sports assets.

Perfect 10 is a partnership programme, especially developed for brands to associate themselves with the grassroots based Talent ID programme (MyTID) and the Sports Development programme at state level, right up to the podium programme for high performance.

The assets include the athletes, sports development programmes such as the SEA Games, the National Sports Day, Fit Malaysia and the National Football Development Programme.

“We hope to collect RM50 million under the first phase, depending on how long the contracts are signed.

“Sports sponsorship is nothing new. Local and international companies have been sponsoring sports assets for a long time,” he told reporters after the presentation of “Sports Pitch 2016” here today.

Khairy said the ministry was ready to give companies the opportunity to sponsor sports development programmes which can give big returns.

“We have to convince them that sports is getting more popular while the performance of athletes and the management is improving.

“Sponsors will be told where their money will go. This is a transparent project.”

He would propose to the Finance Ministry that they consider giving tax deduction to the sponsors.

– BERNAMA