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Marketing and Sponsorship

Australian Billionaire Gina Rinehart To Become Major Sponsor Of Aussie Swim Team

The world’s richest woman, Gina Rinehart, "has once again come to the aid of Swimming Australia, agreeing to become the sport’s commercial saviour for the next two years through her company Hancock Prospecting Group," according to Nicole Jeffery of THE AUSTRALIAN. The mining magnate, who developed a particular interest in swimming through her children, "is a long-term supporter of the sport in Western Australia, and has now increased her multimillion-dollar commitment to the national body." Rinehart "established the Georgina Hope Foundation," to distribute A$10M ($7.7M) over four years in ­assistance to elite and developing swimmers to prepare for competition. Hancock Prospecting "will now become the naming rights sponsor for this year’s Australian championships (trials for the world championships) in Sydney and next year’s Olympic trials in Adelaide." The team "will wear the Hancock Prospecting logo on their caps in domestic competition" (THE AUSTRALIAN, 3/3). NEWS LIMITED's Todd Balym wrote Rinehart was one of the major backers not to desert the swim team after its "scandalous London Olympic campaign." The Australian swim team "had been without a major sponsor since mid-2013 when EnergyAustralia quit the multi-million dollar contract because of repeated negative headlines that surrounded the team." At one point "it was suggested Rinehart, who directly funds swimmers through her Georgina Hope Foundation, was ready to walk away if another transgression occurred" (NEWS LIMITED, 3/2). In Sydney, Phil Lutton reported with rival programs pouring "vast funds" into their swimmers and facilities, the partnership "is good news for the Australians, who will be spearheaded by sprint stars Cate Campbell and James Magnussen when they take on the world in Kazan in August." Swimming Australia CEO Mark Anderson said that "the move was a welcome one after steady performance improvements over the past 18 months, including a positive showing at the Pan Pacs on the Gold Coast last year" (SYDNEY MORNING HERALD, 3/2).

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