Clearly, in the event of a scandal involving a celebrity, fame can very quickly transform into notoriety and a positive image into a negative one
After the ball-tampering scandal in Australian cricket, a Reuters report last week said that the Australian cricket team lost a major sponsor and a “host of large companies tore up branding deals with individual players". The report added that fund manager Magellan Financial Group cancelled its team naming rights deal, while Commonwealth Bank of Australia dropped players caught in the scandal. Footwear and sports equipment brand ASICS, too, terminated its sponsorship contract with David Warner and Cameron Bancroft immediately. “The decisions and actions taken by David Warner and Cameron Bancroft are not something that ASICS tolerates and are contrary to the values the company stands for," it said in a statement.