Sydney, May 2 (ANI): Cricket Australia (CA) is poised to announce a new mega deal, estimated to be worth almost 50 million dollars over four years, with Commonwealth Bank of Australia, which will make the bank CA's primary sponsor.
Overcoming widespread pessimism about the national team's Ashes prospects to seal sponsorship deals for its home Test and one-day series, CA's new deal with the bank will probably resolve the tussles for its naming-rights deals for international matches, the Sydney Morning Herald reports.
According to the report, the new deal will result in shifting the Commonwealth Bank from the men's 50-over matches to the Tests, in time for this summer's Ashes series against England until at least the end of the 2016-17 season.
The report further said that the Commonwealth Bank has sponsored Australia's home one-day matches for the past six years, and also has smaller deals involving the Southern Stars national women's team, the Big Bash League and Cricket Victoria.
According to the report, the vacancy to be left by the bank for the one-dayers is believed to have already been filled in a deal said to be worth about 35 million dollars over five years.
The agreements, when confirmed, will represent a significant off-field milestone for CA, which finished the summer needing to resolve two major commercial issues well before the home Ashes series: the sponsorships and the now-lapsed television broadcast rights.
CA has officially been searching for a new Test sponsor since June last year, when Vodafone announced it would let its sponsorship lapse after an 11-year tenure, the report added. (ANI)