Steven Smith
Magellan has ended its tie with Cricket Australia post Sandpaper Gate.

After the players, Cricket Australia is now paying a hefty price for the sensational ball-tampering scandal.

Their naming rights sponsor, Magellan, on Thursday (March 29), ended its multi-million dollar sponsorship with the cricket board.

Magellan announced the news only a day after CA handed lengthy bans to disgraced trio Steven Smith, David Warner and Cameron Bancroft.

Hamish Douglass, Magellan co-founder and chief executive, said the investment firm had ended its three-year deal with CA.

“Magellan Financial Group Limited today announces the termination of its three-year partnership with Cricket Australia as the naming rights sponsor of the Australian Men’s Domestic Test Series,” he said in a statement on Thursday (March 29).

“The three-year partnership that Magellan signed with Cricket Australia in August 2017, which commenced with the recent Ashes series, was based on shared values and reputations of integrity, leadership, dedication and an unwavering customer-first attitude.”

Magellan Ends Association With Cricket Australia in the Wake of Ball Tampering Scandal 1
Magellan has severed ties with Cricket Australia. (Credits: Getty)

Douglass further stated the cheating scandal was against the company’s “values”.

“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,” he said. “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.”

Meanwhile, the disgraced players are also paying big prices for their role in the scandal. Warner’s sponsors LG has severed ties with the batsman while Smith lost his partnership with Weet-Bix.

On the other hand, sportswear company Asics announced that it would end its association with Warner and Bancroft.

“As a result of last weekend’s events in Cape Town involving members of the Australian men’s cricket team and following the sanctions made by Cricket Australia, Asics has terminated its sponsorship contracts with David Warner and Cameron Bancroft, effective immediately,” the company said in a statement.

“The decisions and actions taken by David Warner and Cameron Bancroft are not something that Asics tolerates and are contrary to the values the company stands for.”

The scandal took place on the third day of the game in Cape Town. Bancroft was captured using yellow tape to scruff up the ball. Once the broadcasters repeatedly aired the footage and even displayed it on the giant screen, Bancroft was seen slipping the yellow tape inside his trousers.

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Bancroft was caught red-handed while trying to change the ball’s condition(Credits: AP)

Later, Steven Smith and Bancroft sensationally admitted they had pre-planned the whole thing. On the very following, Smith had stood down as Australia’s Test captain. He was also banned for one Test by the ICC.

Cricket Australia then handed lengthy bans to Smith, Bancroft and Warner. Both Smith and Warner have been banned for a year while Bancroft has been handed a nine-month ban.

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