The competition was established in 1982 and was first known as the Datsun Challenge. Under the new NSL regime in 1984, it became known as the JPS Knockout Cup. It made use of this name until 1992 when it became known as the Coca-Cola Cup. It was sponsored by the drinks manufacturer until 1996, when it was replaced by the Rothmans Cup which was changed back to the Coca-Cola Cup in 2001 due to the new rules regarding tobacco sponsorship in sport. Telkom became the new sponsors in 2006.
In all matches there has to be a winner on the day, this will be decided if there is a winner after full-time (90 minutes). If teams are tied at full-time then extra time will be played, penalties will decide the winner if the scores are still even (there is no golden goal rule).
The winner receives R4.25 million making it one of the most highly paid cup competition in Africa.