Article by Jessica Halloran courtesy of the Herald Sun.
Australia’s richest person, Gina Rinehart, has thrown Netball Australia a multimillion-dollar financial boost by backing in the national team the Diamonds with a blockbuster sponsorship.
Mrs Rinehart’s company Hancock Prospecting has joined with the Diamonds until the end of 2025, with the money to go directly into the team’s high-performance program.
The move to support the Diamonds, the world’s No.1 team, comes just months after Netball Australia’s dire finances were revealed. Netball had lost $7.2m over the past two years and has debts of about $4m due and payable at the end of 2022. A “going concern” notice had been issued.
Netball Australia chief executive Kelly Ryan said the code was “incredibly grateful” for Mrs Rinehart’s timely support.
“This is a major investment for our sport and is a huge contribution towards the ongoing success of the Diamonds,” Ms Ryan said. “We are incredibly grateful to this leading Australian private company, Hancock Prospecting, for its significant support and partnership.
“Hancock Prospecting is investing directly into the Diamonds high-performance program, allowing Netball Australia to maintain its position as the cornerstone of women’s sport in Australia.
“We are excited they have chosen to partner with Australia’s most popular female team sport and the world’s No.1 ranked netball team.”
The Diamonds are the reigning Commonwealth Games champions.
The Hancock Prospecting logo will feature on the Diamonds uniforms at the Constellation Cup next month.
The sponsorship of the team comes at a key time for the sport as it heads into next year’s World Cup in Cape Town.
It’s the fifth Australian sport Mrs Rinehart has supported, in an effort to bolster their international success.
Mrs Rinehart, who has become the biggest individual financial supporter of Australia’s Olympic efforts by backing in swimming, volleyball, synchronised swimming and rowing, will invest as she has in other sports by contributing directly to the athletes and coaches.
Hancock Prospecting will invest “directly” into Diamonds athletes and coaches, training camps and competitions.
The Australian understands talks between Mrs Rinehart and Netball Australia chiefs eventuated several months ago after the West Australian government paid to host the Super Netball grand final.
