Gina Rinehart to become major sponsor of Australian swimming team

Mining magnate Gina Rinehart's ongoing support of swimming in Australia will see her company, Hancock Prospecting, become the major sponsor of the Australian swim team.

The multi-million dollar sponsorship will see Hancock Prospecting become Swimming Australia's principal sponsor until the end of 2016 - seeing the sport through the 2016 Olympic Games in Rio de Janeiro.

The Australian swim team had been without a major sponsor since mid-2013 when EnergyAustralia quit its contract because of repeated negative headlines that surrounded the team at the 2012 London Games.

Those headlines related to the abuse of prescription drugs, alcohol and curfews by the Australian swim team during the London Games and led to an independent report describing a "toxic" culture within 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.

However, backing from Rinehart, frequently described as Australia’s richest woman, will help Swimming Australia on its path to Rio in 2016.

Commenting on the sponsorship, Rinehart stated "we are very proud to increase our support of these great young ambassadors who represent our country on the world stage.

“Under the leadership of Swimming Australia President John Bertrand, we are seeing an exciting time for Australian Swimming as we witness a resurgence in the pool and an improved culture and focus on excellence, teamwork, and high standards.

“The success of our swimmers has been an important driver of Australia’s national pride and Hancock Prospecting has been committed to investing in our country’s future for many years.”

The sponsorship is a major achievement for Swimming Australia’s commercial team as they have strived to create new business for the sport.

Welcoming the backing, Swimming Australia Chief Executive Mark Anderson said Rinehart’s increased support was a sign the swim team had turned the corner in their public profile.

Anderson stated "this announcement is another very positive step forward as we prepare for our biggest challenge in 2016.

“The tremendous support and endorsement of our progress from Hancock Prospecting and the Georgina Hope Foundation as we pursue our goals adds further momentum and excitement for all involved in our sport.

“Importantly the way the team are presenting themselves to the Australian public has been particularly pleasing.”

Australia's swimmers won just one gold medal at London 2012, far short of previous medal hauls at other recent Olympics. However, since 2013, Australia has crowned three individual world champions, ended 2014 as the virtual world No.1 and broken a world record in a relay team led by superstar Cate Campbell.

Image shows Gina Rinehart (right) receiving the Australian Olympic Committee’s Order of Merit for her long standing involvement and support of swimming and volleyball.