Cricket Australia’s Test naming rights sponsor has torn up its deal as player sponsors also jump ship following the ball-tampering scandal.
Investment firm Magellan said the conspiracy in the South African Test series was “so inconsistent with our values”, it had to end its three-year deal.
The deal with the ASX-listed financial services provider was only signed in August 2017.
“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,” co-founder and chief executive Hamish Douglass said in a statement to the stock market on Thursday.
ASICS is among the player sponsors to scrap deals.
The athletics company said it couldn’t tolerate the decisions and actions of David Warner and Cameron Bancroft.
“(The actions) are not something that ASICS tolerates and are contrary to the values the company stands for,” it said in a statement on Thursday.
Electronics company LG on Wednesday said it would not renew its soon-to-expire deal with Warner.
The Indian Premier League also banned Warner, who had initially been confident of not only taking part in the T20 tournament but retaining his lucrative leadership post with Hyderabad.
Sanitarium this week removed all material related to sacked Australian skipper Steve Smith from the website of its breakfast cereal Weet-Bix.
The wholly owned subsidiary of the Seventh-day Adventist Church said it was awaiting the results of the investigation by Cricket Australia.
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