Key sponsors tear up deals over ball-tampering scandal
CRICKET Australia's Test naming rights sponsor has torn up its deal, as player sponsors also jump ship in the wake of 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 signed in August last year.
Co-founder and chief executive Hamish Douglass said "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".
"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," he said in a statement to the ASX on Thursday.
In addition, athletics company ASICS said it couldn't tolerate the decisions and actions of David Warner and Cameron Bancroft and had terminated their personal sponsorships.
"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 company said in a statement on Thursday.
Warner was dumped by sponsor LG on Wednesday, while Sanitarium has removed all material related to sacked Australian skipper Steve Smith from the website of its breakfast cereal Weet-Bix.