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: \u201cWhat\u2019s taken place is inexcusable.\u201d \u201cThis does leave a stain on Australia\u2019s reputation with respect to cricket and we need to be mindful of that. It\u2019s very important that we see decisive action taken by Cricket Australia. It\u2019s very important that we move quickly to improve our standing again because these types of character taints, unfortunately, do tend to stick around,\u201d 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 \u2026. recognises that so after undertaking due process I do believe they\u2019re going to take the appropriate action,\u201d 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 \u201chard to put a dollar figure\u201d on the damage but Cricket Australia could give up hopes of a $1 billion bill for rights. \u201cThey\u2019re not going to get that, and I think it\u2019s probably going to be closer to the $600-700 million mark,\u201d 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 He has been replaced by Ajinkya Rahane.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.