Hancock Prospecting Spikes Volleyball Funding Before Home World Championships

Gina Rinehart’s Hancock Prospecting remains committed to backing elite athletes contempt ending a 12-year relation pinch Volleyball Australia, an organisation which had made her patron and thanked her for “unwavering support” arsenic precocious arsenic past year.

Although it now faces a financial hit, Volleyball Australia (VA) expressed gratitude connected Monday for payments by Rinehart’s institution reportedly worthy astir $5m complete nan past decade.

As nan athletics prepares to big nan World Beach Volleyball Championships successful Adelaide starting Friday, a VA spokesperson confirmed nan sponsorship statement ended past twelvemonth and “was not renewed for an further term”.

The narration had seen Hancock Prospecting supply financial assistance to meet operational costs, big tournaments and moreover subsidise tv programming, and Rinehart was acknowledged arsenic nan sport’s Australian patron from 2013.

“Volleyball Australia is sincerely grateful for Hancock Prospecting’s support of our athletics and our athletes complete galore years,” nan VA spokesperson said.

VA did not supply immoderate much accusation astir Rinehart’s alteration of heart, and Hancock Prospecting – which has ongoing sponsorship agreements successful swimming, rowing and pinch nan Australian Olympic Committee – besides declined to remark connected nan extremity of nan relationship.

The news, first reported successful nan Australian, triggered interest wrong sporting circles, fixed Hancock Prospecting has provided tens of millions of dollars to elite athletes, who often unrecorded successful financial accent while they dedicate themselves to training.

Despite winning her support from athletes, Rinehart’s finance successful athletics has not been without controversy. A woody pinch Swimming Australia ended successful 2021 pursuing disputes pinch nan nationalist body, and Hancock Prospecting now has abstracted business agreements pinch Swimming WA and Swimming Queensland.

Hancock Prospecting besides withdrew from a $15m yearly sponsorship pinch Netball Australia successful 2022 pursuing backlash from players who had concerns over nan grounds of nan institution connected Indigenous issues.

On Monday, a Hancock Prospecting spokesperson confirmed nan exit from volleyball did not bespeak a broader strategical displacement by nan institution distant from supporting Australian athletes.

For galore swimmers and rowers, grants from Hancock Prospecting make up a mostly of their earnings, and badge winners person been awarded bonuses worthy tens of thousands of dollars. Payments to swimmers unsocial are worthy much than $4m per year.

VA now has 2 awesome partners, Indian automotive elephantine Mahindra and Scape Australia, a student accommodation provider.

Scape’s laminitis is VA president Craig Carracher, who is besides connected nan AOC board. His institution besides sponsors triathlon and paddle successful Australia.