Magellan walks away from Cricket Australia sponsorship in light of ball-tampering saga

By Luke Costin,

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    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.

    © AAP 2018

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    The Crowd Says (7)

    • March 29th 2018 @ 12:15pm
      BurgyGreen said | March 29th 2018 @ 12:15pm | ! Report

      Well, real financial damage is probably the only thing that’s likely to effect genuine change.

    • March 29th 2018 @ 12:34pm
      Marlin said | March 29th 2018 @ 12:34pm | ! Report

      All these sponsors were fine with the previous culture and behaviour BEFORE the ball tampering, then? Hypocrites one and all…

      • March 29th 2018 @ 12:42pm
        George said | March 29th 2018 @ 12:42pm | ! Report

        Sutherland is STILL ok with it.

      • March 29th 2018 @ 12:51pm
        Rats said | March 29th 2018 @ 12:51pm | ! Report

        May be they have had enough. May be this is exactly the kind of motivation CA needs. Hitting them where it really hurts.
        It’s like a mini revolution for me. To make overall mental changes. And I am sure only positives will come out of all this for Australian cricket.
        I mean, has anyone ever imagined in our wildest of imaginations an Aussie like Lehmann saying that Australia can learn from NZ. All for good.
        Once you realise and acknowledge you have a problem, half of the problem is solved.

    • March 29th 2018 @ 12:38pm
      Rats said | March 29th 2018 @ 12:38pm | ! Report

      Australian cricket fans, public, sporting fraternity, sponsors, boards are all setting an awesome precedent. I appreciate Australia for this.
      The world needs a role model like Australia at the moment considering the kind of cheating done by Russians etc. There shouldn’t be any room for cheating in sports.
      Cricket boards like BCCI can learn from CA. Ex-great cricketers from other countries must learn from ex-cricketers from Australia. No ex Australian cricketer shied away from giving honest opinions.
      I am not an Aussie. I am just at awe with no partiality shown towards cheaters by Aussie people. It’s betrayal of trust. Simple..
      And a sensible punishment too. Not too harsh. Definitely not too linient..

    • March 29th 2018 @ 12:42pm
      rock said | March 29th 2018 @ 12:42pm | ! Report

      Didn’t expect that.

      So they’re happy for the players to actively abuse players on and off the field, but not this – go figure.

    • March 29th 2018 @ 12:56pm
      Pope Paul VII said | March 29th 2018 @ 12:56pm | ! Report

      I’d never heard of Magellan Financial Group before this summer and doubt many cricket followers had.

      No doubt they fancy themselves as intrepid explorers like their porto namesake Ferdinand Magellan. In 1521 Ferdy sailed half the uncharted seas only to come off second best in a stoush with the local Filipinos. Possibly because they didn’t know their country was called the Philippines yet.

      Sail on Magellan F G.

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