Cricket Australia (CA) has announced a three-year partnership with Magellan Financial Group, marking the governing body’s first major sponsorship deal since resolving a long-running pay dispute with its players.
The agreement will see the investment management business serve as the naming rights sponsor of Australian domestic Test series, starting with this winter’s Ashes, a five-Test match series against England.
The company will benefit from significant brand exposure throughout all Test venues, and across marketing campaigns promoting the series on television and social media.
CA’s bitter battle over pay with its players had threatened to derail the imminent Australian tour of Bangladesh, along with the upcoming Ashes series and domestic competitions. Broadcasters and advertisers had also voiced concerns that the dispute was having an impact on their own preparations.
After months of negotiations, however, the two parties settled upon the major issues of a revised Memorandum of Understanding (MoU) last week, with the minor details due to be finalised in the coming weeks.
James Sutherland, chief executive of CA, said: “Magellan is an organisation that has built its reputation on integrity, leadership and an unwavering customer-first culture, and Cricket Australia is proud to announce it as our newest partner.
“As we approach the highly anticipated 2017/18 Ashes series, we are excited to have Magellan partnering with Cricket Australia as Test naming rights partner for the next three years. We look forward to working with Magellan and supporting its growth objectives.”
Hamish Douglas, co-founder, chief executive and chief investment officer at Magellan, added: “Test cricket is the premium form of the game and its attributes of patience, skill and dedication to excellence are aligned with Magellan’s approach to preserving and growing our clients’ wealth over the long term.
“Test cricket has a large and diverse following throughout Australia and this partnership with Cricket Australia represents a unique opportunity to highlight the benefits of global investing and to position Magellan as a trusted partner in that journey.”
The 2017/18 Ashes will be the 70th edition of the showpiece series, with the five Tests scheduled to take place between 23rd November 2017 and 8th January 2018.