AUSTRALIA'S richest woman Gina Rinehart has saved one of the country's most iconic sports pledging millions to become major sponsor of the Australian swim team.
Rinehart, one of the major backers not to desert the swim team after their scandalous London Olympic campaign, will today confirm she has increased her stake in the sport with her company Hancock Prospecting to be principal sponsor until the end of 2016.
The Australian swim team had been without a major sponsor since mid-2013 when EnergyAustralia quit the multi-million dollar contract because of repeated negative headlines that surrounded the team.
The "toxic" culture report, the press conference confession of the Stilnox six and an upheaval of management left swimming on the nose in the corporate sphere.
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.
Had Rinehart quit swimming the sport would be on its knees and unable to have rebuilt their performance to now be on the path to a much stronger a Olympics at Rio in 2016.
Now, almost two years later, she is dipping more money into the sport which says a lot about her commitment to the pool and reflects the struggle of Swimming Australia's commercial team to create new business for the sport.
Australian swimmers Bronte and Cate Campbell. Source: News Corp Australia
"We are very proud to increase our support of these great young ambassadors who represent our country on the world stage," Rinehart said.
"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." 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 which plunged to all-time low just two years ago.
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.
"This announcement is another very positive step forward as we prepare for our biggest challenge in 2016," Anderson said.
"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."
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