Magellan Financial Group has terminated its three-year deal with Cricket Australia, which was signed in August 2017.
Thursday 29 March 2018 12:39, UK
David Warner has apologised to cricket fans "all over the world" for the part he played in Australia's ball-tampering scandal.
Steve Smith and Warner were banned for 12 months by Cricket Australia, while Cameron Bancroft received a nine-month suspension for his actions. The ruling prevents them competing in all top-level cricket in Australia.
Warner, who Cricket Australia said was responsible for the "development" of the ball-tampering plans, has said he will spend time with his family away from the spotlight before making any further announcement on his future.
"To cricket fans in Australia and all over the world: I am currently on my way back to Sydney," the opening batsman said on Twitter.
"Mistakes have been made which have damaged cricket. I apologise for my part and take responsibility for it. I understand the distress this has caused the sport and its fans.
"It's a stain on the game we all love and I have loved since I was a boy. I need to take a deep breath and spend time with my family, friends and trusted advisers. You will hear from me in a few days."
Meanwhile, Magellan Financial Group, who was the naming rights sponsor of the Australian Men's domestic Test Series, announced the termination of the three-year deal signed with Cricket Australia in August 2017.
Hamish Douglass, co-founder and CEO of Magellan, said: "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.
"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.
"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."
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