(Reuters) - Magellan Financial Group (MFG.AX) said on Thursday it had terminated a partnership with Cricket Australia as the naming rights sponsor of Australia’s men’s domestic Test series, citing a recent ball-tampering scandal.
Australia captain Steve Smith and vice-captain David Warner were both banned for 12 months for their roles in the ball-tampering scandal in Cape Town, Cricket Australia said. Opening batsman Cameron Bancroft was banned for nine months.
“Regrettably, these recent events are so inconsistent with our values that we are left with no option but to terminate our ongoing partnership with Cricket Australia,” Magellan Chief Executive Hamish Douglass said.
Reporting by Ambar Warrick in Bengaluru; Editing by Paul Tait