The sponsorship that has risen by sh30m will have the top 16 teams in the competition all having a share of the prize money.
Stanbic has unveiled a sh120m towards the annual Stanbic Uganda Cup that starts Wednesday with the round of 64.
The sponsorship that has risen by sh30m will have the top 16 teams in the competition all having a share of the prize money, more than the 8 that did last year, in the 43rd edition of the tournament.
The announcement was made by Stanbic Bank Marketing Manager Sonia Karamagi during a press conference at Serena Hotel.
"We are really excited and very pleased to partner with FUFA. Football around the world is not just about recreation but it is about skills development, building infrastructure and job creation and as Stanbic our commitment is to drive this growth," Karamagi, flanked by FUFA president Moses Magogo, Head of Marketing Rogers Byamukama and Competition Director Aisha Nalule said.
"We want to tap into the passion of the players and fans to make it a journey to remember; we are also going to rally our staff and customers across the country to this tournament and we thank FUFA for bringing this to life," Karamagi stated.
Magogo termed the renewed sponsorship as another milestone for FUFA on their journey of becoming the number one footballing nation on the continent, on and off the pitch.
"We thank Stanbic for making this tournament bigger, the increased resource is a sign of confidence that we are on the right track and we can only promise to organise a much better competition," Magogo stated, before he said that from the round of 16 all matches will be live on TV.
"Our objective is to create local stars; football should make its own money if we remain organized, so we shall continue selling the passion and entertainment, so we have a responsibility of improving the quality and organization," Magogo stated.
Buganda region will host this year's final at a venue to be selected later.
Defending champions KCCA FC will start their Uganda Cup title defense with a home fixture against Amuka Bright Stars of Lira in the round of 64 that starts on Wednesday at different venues across the country.
Last year's finalists Vipers SC will also play at home against Rusekere Growers while SC Villa will play a team from the Buganda region, whose qualifiers end on Tuesday.
Other UPL sides playing at home include; the BUL FC against Kataka, Paidha Black Angels versus Express, Mbarara City against Maroons, Police FC versus Boma, URA FC v JMC Hippos and Ndejje University against Kansai Plascon matches.
The 16 Star Times Uganda Premier League sides were drawn alongside 22 Big League and 26 regional sides in the annual knock out tournament whose winner represents the country in the CAF Confederations Cup.