Investors to cut ties with Storm partnership
Several corporate sponsors want out on their partnership with Melbourne Storm after it was involved in a salary cap scandal.
News reports state that hospitality industry superannuation fund Host Plus will cut ties with Storm, while Kooga, a Queensland-based sportswear maker, may also join in the foray as well.
"We're shocked and currently evaluating our position with the club," a KooGa spokesperson said.
ME Bank, another sponsor of Melbourne Storm, will also withdraw on its partnership. ME Bank chief executive Jamie McPhee expressed its disappointment with the recent events as well.
"ME Bank believes in the principles of strong governance, transparency, integrity, and fairness and we seek to ensure that all of our corporate and community partnerships uphold these same values," McPhee said.
A total of 18 corporate sponsors are listed under Melbourne Storm's website, including News Ltd-owned Herald Sun, car and motorcycle manufacturer Suzuki, Channel Nine, Harvey Norman, Gatorade, Mother and Intercontinental Hotels and Resorts, and more.
Managing director Tyron Brant of KooGa said in a statement that his group is disappointed that alleged former Melbourne Storm Management "have led the team and associated parties into such disrepute."
KooGa will be expecting more information on the salary cap breaches at the National Rugby League (NRL) Club.
On the other hand, News Ltd chief executive John Hartigan revealed he was informed about the incident only in "recent days."
"I feel a number of emotions. I certainly feel angry and very disappointed and quite frankly I feel sick in the stomach by it,'' he said.
''We don't often come to you and say there are a couple of people who are cheats, in this case we've got a couple of cheats who shouldn't bring down the overall club."
News Ltd owns a 50 per cent stake in NRL Club.
Many are speculating that every 15 NLR club will benefit by $73,333 from the Storm's salary cap exposure.
Melbourne Storm is an Australian professional rugby league football club based in Melbourne, Victoria.