One of the biggest sponsors of Cricket Australia, fund manager Magellan, has ended his association with the cricket board effective immediately. This came as a result of the disgrace of the ball-tampering scandal which saw Steve Smith, David Warner, and Cameron Bancroft receiving bans of various magnitude.
Magellan inked a three-year partnership in August 2017 as naming rights sponsor for Australia’s domestic Tests in a deal estimated at the time to be worth Aus$$20 million. It began with the recent Ashes series against England.
“A conspiracy by the leadership of the Australian men’s Test cricket team which broke the rules with a clear intention to gain an unfair advantage during the third Test in South Africa goes to the heart of integrity,” said Magellan chief Hamish Douglass in a statement.
Douglass continued, “Regrettably, these recent events are so inconsistent with our values that we are left with no option but to terminate our ongoing partnership with Cricket Australia. We were delighted with the recent Magellan Ashes Series sponsorship and it is with a heavy heart that we have to end our partnership in these circumstances.”
The plot to tamper with the ball during Australia’s third Test against South Africa in Cape Town last weekend has rattled the game and badly tarnished the careers of Warner, Bancroft, and captain Steve Smith.
Other team sponsors, including Qantas and Commonwealth Bank, have voiced their deep disappointment over the scandal but so far have taken no action.