Cricket Australia is being forced to seek a new naming rights sponsor of men’s Test cricket after real estate giant Domain elected to withdraw its backing midway through a four-year deal.
Domain signed a platinum partnership with CA in June 2018 when financial services company Magellan withdrew its naming rights sponsorship in the wake the Australian team’s ball-tampering scandal in South Africa.
The deal with CA, which was to run until 2022 and estimated to be worth $6.5m, gave Domain an option after two years to extend or not for a further two.
The online property company, which just reported a 10.9 per cent revenue fall for the first half of the 2020 financial year, has decided to move “away from that particular vehicle” due to a realignment of marketing strategy focused on a more targeted and local marketing approach as opposed to one focused on generating national awareness of the brand, which was the rationale behind the Test cricket deal.
The announcement, which was first published in the Sydney Morning Herald, has now left CA looking to secure another major backer of home Test series.
“We’re in discussions [with CA] about how else we might evolve our relationship with them,” Domain chief customer officer, Jason Chuck, said.
The Australian Test naming rights are regarded by CA as its premium property and executive general manager of broadcast and commercial, Stephanie Beltrame, said the search has already commenced for a new partner, with the body seeking to retain Domain in a different capacity.
“They are stepping away from the Test naming rights but have enjoyed a successful partnership with us and due to some internal recalibration they’re exploring how a new partnership could look,” Beltrame said.
Australian players are back in South Africa for the first time since the events at Newlands two years ago, with the first of three Twenty20 internationals being played in Johannesburg on Friday (Saturday 3am AEDT) before a three-match one-day series to complete the tour.
They will take the field in Cape Town next Wednesday for the third T20.