Steve Smith, Cameron Bancroft ball-tampering saga could cost Cricket Australia whopping $1 billion

By: | Updated: March 26, 2018 10:40 PM

The Australian cricket team, following the now infamous ball-tampering saga starring Steve Smith and Cameron Bancroft, could cost them a whopping sum of $1 billion in the coming years.

The Australian cricket team, following the now infamous ball-tampering saga starring Steve Smith and Cameron Bancroft. (Reuters)

The Australian cricket team, following the now infamous ball-tampering saga starring Steve Smith and Cameron Bancroft, could cost them a whopping sum of $1 billion in the coming years. As Smith and David Warner are set to be stood down for their role in the ball-tampering scandal that saw rookie Bancroft caught on camera stuffing tape down his pants, the saga has followed Australian leadership around the world.

According to a report by Daily Telegraph, Australian’s trade, tourism and investment minister Steven Ciobo on Monday while talking about the incident said: “What’s taken place is inexcusable.”

“This does leave a stain on Australia’s reputation with respect to cricket and we need to be mindful of that. It’s very important that we see decisive action taken by Cricket Australia. It’s very important that we move quickly to improve our standing again because these types of character taints, unfortunately, do tend to stick around,” he added, according to Daily Telegraph.

Ciobo also said that notwithstanding that it has been the butt of a number of jokes. “The fact does remain that this actually does go to reputational injury and we need to be mindful of that. Cricket Australia …. recognises that so after undertaking due process I do believe they’re going to take the appropriate action,” he said, the report added.

The reputational damage comes amid reports the scandal could cost Cricket Australia the $1 billion it expected to rake in over the years ahead for television rights to the game, the Daily Telegraph report added.

Deakin University sports management lecturer Michael Naraine told the ABC it was “hard to put a dollar figure” on the damage but Cricket Australia could give up hopes of a $1 billion bill for rights.

“They’re not going to get that, and I think it’s probably going to be closer to the $600-700 million mark,” he said.

Meanwhile, in the aftermath of the recent matter which forced Australia skipper Steve Smith to step down, his IPL team Rajasthan Royals on Monday also stripped him of the captaincy. He has been replaced by Ajinkya Rahane.

The Royals, returning to the IPL fold after serving a two-year ban on charges of corruption, had on Sunday sought time to take a final call ahead of the start of the 11th edition of the cash-rich league.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition