Article courtesy of the Australian Associated Press.
Netball Australia’s precarious financial position has eased with billionaire Gina Rinehart backing the Diamonds in a lucrative sponsorship deal.
Rinehart’s company, Hancock Prospecting, will support the Diamonds until the end of 2025, with the money to go towards the team’s high performance program.
It comes at a key time for the national team as they prepare for the 2023 Netball World Cup in Cape Town and the Victoria 2026 Commonwealth Games.
Earlier this year the sport’s cash crisis was revealed, with the COVID-19 pandemic contributing to losses of more than $7 million over the past two years.
Netball Australia chief executive Kelly Ryan said the code was “incredibly grateful” for Rinehart’s support.
“This is a major investment for our sport, and is a huge contribution towards the ongoing success of the Diamonds,” Ryan said in a statement on Thursday.
“We are incredibly grateful to this leading Australian private company, Hancock Prospecting, for its significant support and partnership.”
The Hancock Prospecting logo will feature on the Diamonds’ uniforms when they take on New Zealand in the Constellation Cup next month.
Australia’s richest person, mining magnate Rinehardt has also invested in the elite level of swimming, synchronised swimming, rowing and women’s volleyball as well as a multi-million dollar commitment with the AOC.
Australian Associated Press
