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Top sponsor Magellan terminates contract with Cricket Australia amid ball-tampering row

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A day after disgraced Australian trio Steve Smith, David Warner and Cameron Bancroft were banned for specific periods by Cricket Australia, top sponsor Magellan Financial Group has terminated its contract with the board.

Magellan is Cricket Australia’s naming rights sponsor for domestic Test series. The deal, at the time of signing, was worth USD 6-7 million, reports suggest. As per the deal, the company’s logo did not appear on the Australian team’s apparel.

The investment firm announced that it would withdraw its sponsorship as the recent ball-tampering scandal and following events were 「so inconsistent」 with the company’s values.

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CA had signed a three-year deal with Magellan in August 2017. Magellan had also featured as a sponsor during the Ashes series.

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「A conspiracy by the leadership of the Australian men’s Test cricket team ... [was] so inconsistent with our values that we are left with no option but to terminate our ongoing partnership,」 Magellan co-founder and chief executive, Hamish Douglass said, according to a report by The Guardian.

「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,」 Douglass added.

Having been caught red-handed for indulging in ball-tampering, Steve Smith and David Warner were banned from playing cricket for Australia for one year by CA. Cameron Bancroft, who was seen scraping the ball with a yellow object, was suspended from international cricket for a nine-month period.

Earlier, the Australian cricket Board had suspended the three from playing in the final Test match. The trio have been given seven days to appeal against the decision.

Smith, who had led the national side since 2015, confessed to reporters in Cape Town on Saturday that the ball-tampering had been orchestrated by himself and senior players.

Bancroft was tasked with implementing the plan and was duly caught on camera using the tape.

CA’s previous naming rights sponsor for domestic Test series was Commonwealth Bank. The deal was said to be worth USD 13 million.

本文來源:https://www.moneycontrol.com/news/cricket/sports-trends/top-sponsor-magellan-terminates-contract-with-cricket-australia-amid-ball-tampering-row-2539005.html

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