Australian Cricket Board (ACB) Chief Executive Officer Malcolm Speed today announced the ACB and Mercantile Mutual had reached agreement on a further seven-year contract to sponsor domestic one-day cricket in Australia.

Mercantile Mutual has sponsored the Australian summer's Mercantile Mutual Cup for seven seasons - the premier domestic one-day competition in the world.

At a media conference in Sydney today, Mercantile Mutual Managing Director Rod Atfield said his company believed its continued partnership with the ACB would strengthen the game at all levels.

"Mercantile Mutual is excited to confirm our long-term commitment to Australian cricket with a new seven-year sponsorship for Australia's national one-day championship - The Mercantile Mutual Cup," Mr Atfield said.

"It is widely recognised that one of the major strengths of Australian cricket is its depth of talent and we are proud that players like Adam Gilchrist, Jason Gillespie and Michael Bevan have made their mark in The Mercantile Mutual Cup.

"Mercantile Mutual's business is about helping people build and protect their wealth over the long term and we believe that through our sponsorship of The Mercantile Mutual Cup, we are helping build and protect the long-term prosperity of Australian cricket," he said.

Mr Speed paid tribute to Mr Atfield and Mercantile Mutual, saying his company's sponsorship had revolutionised the domestic one-day competition in Australia.

"Mercantile Mutual has challenged the players to take their game to another level during the course of its sponsorship with such innovations as the new fielding restrictions between the 16th and 30th overs, as well as offering lucrative rewards for the 'Hit the Sign' competition," Mr Speed said.

"Spectators have also been included with such promotions as 'Catch the Six' and the overall effect has been to promote the game in a very positive light.

"On behalf of the ACB, I wish to thank Rod Atfield and Mercantile Mutual for their support and cricket looks forward to continuing this fine partnership," Mr Speed said.

© 2000 Australian Cricket Board