SYDNEY—Australia’s Magellan Financial Group Ltd canceled a naming rights sponsorship deal with Cricket Australia after it banned players involved in a ball-tampering scandal, the biggest blow to the country’s governing body reeling from the incident.
Though some sponsors of Australian cricketers have pulled individual sponsorship deals, the decision by Magellan suggests the financial impact of the episode will go to the core of a sport seen by many Australians as the embodiment of fairness.
