Hancock Prospecting announced as sponsor of Australian Olympic Team

Mining magnate Gina Rinehart’s Hancock Prospecting has been announced as a sponsor for the Australian Olympic Team through to 2026 in a partnership that encompasses multiple Winter and Summer Olympic Games as well as the Youth Olympics and Pacific Games.

The agreement will see Hancock Prospecting sponsor the Australian Olympic Team competing at the upcoming Beijing 2022 Winter Olympic Games, Paris 2024 Summer Olympics, and the Milan-Cortina Winter Olympics in February 2026.

In a week when it was revealed oil and gas company Santos prematurely ended its partnership with Tennis Australia after accusations of ‘sport washing’, the announcement also sees the mining company become presenting partner of the Australian Olympic Change-Maker program which promotes and develops leadership among young Australians and athlete ambassadors.

Welcoming the partnership for delivering significant benefits to the preparation of Australian Teams, assist athletes and develop young leaders, Australian Olympic Committee (AOC) President John Coates advised “this is a major commitment to Australian sport. We welcome and thank Mrs Gina Rinehart and Hancock Prospecting for this investment. On the eve of farewelling our Team to the Beijing 2022 Winter Olympic Games, the timing is perfect.

"There is no coincidence that the strong support of Mrs Gina Rinehart for many of our athletes in Tokyo yielded excellent results. There were so many golden moments and success in the pool, our rowers had a wonderful Games, as did our beach volleyballers.

"While delighted that this partnership will assist with our Teams at future Games, I am also extremely grateful for the ongoing support for so many athletes at the grassroots. While that support is separate to this arrangement, it is a remarkable illustration of Mrs Gina Rinehart's commitment to Australian sport at all levels. Along with our artistic swimmers, our swimmers, rowers and beach volleyballers will continue to benefit from this investment.

“She's a great Australian who shares our Olympic values and philosophies."

"The AOC is proudly independent of government. We neither receive nor seek federal funding for our day-to-day operations. We are grateful to have the support of Mrs Gina Rinehart, Hancock Prospecting and all our partners to ensure we retain that independence.”

Rinehart, the Executive Chairman of Hancock Prospecting, which is already a major sponsor of Swimming Australia, noted "our company has been a long-term supporter of the summer Olympic sports of artistic swimming, rowing and volleyball for many years, and specifically over 30 years for swimming. We are so proud to help our great Olympians who are such inspirations, through their hard work, most do not really know how hard they work, dedication, focus and self-discipline, as they endeavour to represent our country to the best of their ability. The traits these role models show in my view, are important for us all, if we wish to succeed in life and business.

"We are delighted to take the next step in our long-term support of Australia's best athletes and become an official Australian Olympic Committee partner, an organisation admirably independent of Government funding and aligned to our values at the Hancock Group.

"At Hancock we believe it is important that if there is government funding to other sporting bodies, that it be strictly applied to support the Olympians and future Olympians, their coaches and training requirements and participation in sport. We believe government or sponsor funds should be used to ensure sport is at the service of the community and the athletes, and much tighter scrutiny of taxpayers and sponsors funds would assist. As we announce this partnership, we are delighted to confirm that we have committed our long term direct athlete support funding to the top tier athletes from rowing, swimming, artistic swimming and volleyball until Paris 2024, with a strong intent to continue this all the way until and including Brisbane 2032.”

In a comment with political emphasis, Rinehart continued “as Australia looks to hosting an Olympic Games in 10 years, it will be important for our country to be open to investment and reduce the regulatory burden that impacts development needed to help make Queensland shine and the Games a success.”

As reported by Guardian Australia, Rinehart said she believed there was a need for greater scrutiny of how taxpayer money was allocated, commenting “we believe government or sponsor funds should be used to ensure sport is at the service of the community and the athletes, and much tighter scrutiny of taxpayers and sponsors funds would assist.”

Lower 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 in 2014.