Hancock Prospecting has announced it will withdraw support from Netball Australia after player backlash against the sponsorship.
The mining company, which is owned by billionaire mining magnate Gina Rinehart, announced the withdrawal of $15 million in funding in a statement, saying it would continue short-term payments in order to allow Netball Australia to find a new sponsor.
"Hancock and Roy Hill’s recently proposed partnerships with Netball Australia and Netball WA were based on the unwavering enthusiasm that Hancock and its executive chairman for over 30 years have demonstrated for the athletes who proudly represent our nation," the statement read.
"Hancock appreciates Netball Australia's warm welcome and support, and because of this Hancock and Roy Hill have advised Netball Australia and Netball WA respectively, that it will instead provide a four-month sponsorship should they and their players wish to accept it, to continue funding the athletes and to help netball as it arranges alternative funding and sponsorships."
The sponsorship, which was signed last month, was set to continue through to 2025 and was believed to include a deal that the Hancock branding would feature on player uniforms throughout matches.
However, the Diamonds played without the branding in their match against New Zealand earlier in the week, while Hancock said in the statement there had been no expectation that the company logo would feature during games.
Reports had suggested First Nations netballer Donnell Wallam had expressed an objection to wearing a uniform with the Hancock logo on it.
Netball Australia is reportedly $7 million in debt, while players have been fighting for increased wages.
Hancock Prospecting appeared to take a swipe at players in the press release, saying the sponsorship deal would have allowed the athletes greater pay moving forward.
"Hancock and Roy Hill were not made aware prior to the proposed partnerships, of the complexity of existing issues between Netball Australia and the Players Association," the statement said.
"This includes the Players Association's endeavours to gain a very substantial increase in wages during a time the sport is reeling financially, and unable to provide such an increase.
"Hancock's proposed sponsorship would have enabled a generous increase in wages for the players which would not have otherwise been possible given netball's financial situation.
"Hancock and Roy Hill do not wish to add to netball's disunity problems, and accordingly Hancock has advised Netball Australia that it has withdrawn from its proposed partnership effective immediately."
Netball Australia chair Wendy Archer said she regretted that 'recent turbulence' had resulted in the withdrawal.
"We are grateful that Hancock Prospecting continued to stand by our sport throughout the recent turbulence and we regret the impact this has had on the company," Archer said.
"This has been a challenging period for all involved and while every effort has been made from all parties to resolve the issues surrounding the sensitivities of the partnership, unfortunately we have not been able to achieve a mutually satisfactory outcome."
Netball Australia CEO Kelly Ryan said it was a blow for all levels of netball.
"This is a loss for our whole sport, from grassroots through to the elite program," she said.
"Netball Australia is a strong, resilient organisation and we will continue working around the clock to secure the future of the sport and explore all opportunities that are available."
Earlier this week, Diamonds captain Liz Watson told ABC Breakfast that she backed the deal and hoped any objections to it would be sorted out soon.
"We're great supporters of Hancock, we want to make this partnership work with them … and I'm confident it is going to resolve really soon," she said.
"The girls know this is a really big investment in our sport and it's going to do amazing things for our high-performance program, so we appreciate that."
