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Magellan tears up Cricket Australia sponsorship

Magellan tears up Cricket Australia sponsorship

Tim Stewart
— 1 minute read

Magellan Financial Group has terminated its three-year sponsorship deal with Cricket Australia as a result of the ball-tampering scandal in South Africa.

Magellan has ended a three-year deal with Cricket Australia as the naming-rights sponsor, which was signed in August 2017.

The deal, which commenced during the recent Ashes series against England, will be torn up seven months into the three-year agreement.

Australia captain Steve Smith admitted that the senior leadership of the team made and implemented plans to tamper with the ball during the recent third Test against South Africa in Cape Town.

Steve Smith and vice captain David Warner have both been banned from playing for Australia for 12 months, while batsman Cameron Bancroft has received a nine-month ban.

Magellan chief executive Hamish Douglass said, "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.

"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."

 

Magellan tears up Cricket Australia sponsorship
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