Commonwealth Bank extends innings with Cricket Australia

Commonwealth Bank, Cricket Australia’s leading long-term sponsor has renewed its partnership with the Baggy greens for four additional years ahead of this years Ashes series, beginning with the highly anticipated five-match Ashes series with England from November.

It will also become the main shirt sponsor of the men’s Test team, and continue its support for the women’s Southern Stars national team in all three forms of the game.

Financial terms pertaining to the deal was not officially released by Cricket Australia , however The Australian reports suggest that the deal could be estimated at around AUS$50 million (US$49.4 million).

“Commonwealth Bank is Cricket Australia’s longest-standing sponsor and we are absolutely delighted that this rare opportunity has come up to have them come on board as our Test cricket sponsor,” said Cricket Australia chief executive James Sutherland. “We have had a wonderful relationship for over 26 years with the Commonwealth Bank and they have partnered with us on ODIs for the past seven seasons. Their support extends right across the sport and deep into cricket.”

Ian Narev, the Commonwealth Bank chief executive, added: “Test cricket is the pinnacle of Australian cricket, so we are proud to strengthen our commitment to the game by becoming the new sponsor of the Australian Test team and Test series. We will, of course, continue our support of the Commonwealth Bank Southern Stars team, the Australian Country Cricket Championships, the Imparja Cup, as well as grassroots cricket throughout Australia.”

Telecoms company Vodafone as part of a strategic move to reinvest in network development had decided to withdraw from cricket sponsorship last summer.

Source: sportspromedia.com