Magellan ends partnership with Cricket Australia

Company News

by Rachael Jones

Magellan Financial Group (ASX:MFG) is terminating its three year partnership with Cricket Australia.

The company had the naming rights sponsor of the Australian Men’s Domestic Test Series.

The partnership was signed in 2017 and started with the recent Ashes series.

The CEO of Magellan says the recent events are inconsistent with their values and they were left with no option but to terminate their sponsorship.

Australian cricket was rocked by a ball tampering scandal in Cape Town earlier this week.

Shares in Magellan Financial Group (ASX:MFG) are down 0.13% to $23.84
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.