Castel Malawi Limited has launched Castel Challenge Cup pegged at K1 billion.

The development comes barely days after FDH Bank announced an upward adjustment to its FDH Bank Cup sponsorship to MK150 million per year.

According to information, the deal will run for three years with K320 million invested every year, involving over 2000 teams.

The national competition will start at district level, all the way to the national stage where the overall winner will cart home a whooping K50 million. Runners up will grab K25 million.

Youth and Sports Minister, Uchizi Mkandawire, graced the launch at Ryalls Hotel in Blantyre on Monday night.

Castel, formerly Carlsberg Malawi, last sponsored a tournament of this nature in 2018, then known as the Carlsberg Cup.