Magellan Financial Group has entered into a partnership with Cricket Australia, through which it will serve as the new naming-rights sponsor of the national team’s domestic Test series.
The three-year deal for the funds management business begins with the upcoming 2017-18 Ashes series against England.
As part of the agreement, Magellan will benefit from extensive in-stadium advertising and exposure during the promotion of the series.
Magellan will replace Commonwealth Bank of Australia in the role. Commonwealth Bank recently realigned its partnership with Cricket Australia to support the body’s grassroots initiatives.
Hamish Douglas, co-founder, chief executive and chief investment officer at Magellan, said: “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.”