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David Warner’s fortune is in jeopardy after cheating scandal

The code of silence among the Australian team has been ripped apart in the wake of the ball-tampering scandal.

Yesterday one questioned how much the bowlers knew, while another claimed David Warner was such a ruthless sledger, he once brought a former Test cricketer to tears after a Sheffield Shield match.

Amid this combustible, fractious atmosphere, Warner will hold a press conference at 11am today to finally speak on the ball-tampering scandal that threatens to cost him $6 million over the next 12 months, and force him to sell off some of his $10 million property portfolio.

David Warner pictured in the window of his Sydney hotel suite last night. Picture: Matrix
David Warner pictured in the window of his Sydney hotel suite last night. Picture: Matrix
Warner talks on phone. Picture: Matrix
Warner talks on phone. Picture: Matrix
Candice Warner last night. Picture: Matrix
Candice Warner last night. Picture: Matrix

The ball-tampering scandal threatens to cost him $6 million over the next 12 months

His lifestyle, his reputation and his future all hang in the balance and will be influenced by what he says.

Australia’s fast bowlers were livid at being linked to the tampering scandal in South Africa that has led to 12-month suspensions for Warner and captain Steve Smith, a nine-month ban for Cameron Bancroft, and the resignation of coach Darren Lehmann.

Warner has been identified as the chief architect by Cricket Australia’s investigation, but the fiery batsman is now at odds with his fast bowling teammates after they were originally implicated in the cheating.

With the millions he’ll lose, and having been told he’ll never be considered for a leadership position in any Australian cricket team again, Warner is cornered, under attack and facing the prospect of selling off most of his investments.

The sidelined batsman, who has invested heavily in Sydney’s lucrative real estate market, could cash out of most of the six luxury houses and apartments he and wife Candice have on their books after his $2 million Cricket Australia contract was suspended, his $2.4 million Indian Premier League deal torn up and sponsors pulled the pin.

The 31-year-old former Australian vice-captain, who will miss out on $400,000 in match payments alone during his ban, had plunged most of his sporting earnings into property for his long-term financial security.

David Warner with his wife and two kids at Sydney Internation Airport. Picture: Christian Gilles
David Warner with his wife and two kids at Sydney Internation Airport. Picture: Christian Gilles

But in the fallout from #sandpapergate, Warner’s brand value has been destroyed, with electronics giant LG pulling a rich deal it had tried to ink with the star in recent weeks; hot on the heels of one ended by Nestle’s Milo with the rogue player, worth six figures.

Asics has also withdrawn personal sponsorship.

Warner Inc is crumbling, and many in the Australian camp say he’ll never play for his country again.

It’s understood that in contrast to his on-field approach, Warner is relatively risk-averse when it comes to investments.

Warner Inc is crumbling, and many in the Australian camp say he’ll never play for his country again.

At the height of his success, the Warners paid $3.9 million for a clifftop home in Mermaid Ave, Maroubra, in 2015, then bulldozed the property, with plans for a $4 million rebuild.

The couple also own a $2.3m home in neighbouring Duncan St, with Candice named as the sole owner of four other properties, bought for $3.98m.

“Since they were all purchased between 2015 and 2017 in Maroubra they would be 25 per cent up on what he paid during that period,” real estate mogul John McGrath says.

Despite the Sydney property market cooling, economist Dr Andrew Wilson says even if they had to cash in his chips now — “and why would they?” — they’d do well.

Candice Warner and Husband David Warner enjoy a morning ride in a McLaren. Picture: KHAPGG / MEGA
Candice Warner and Husband David Warner enjoy a morning ride in a McLaren. Picture: KHAPGG / MEGA

“Perhaps he has an in-between career as a property investor,” Wilson says.

“His investments look to be right on the money … the southern part of the eastern suburbs is popular with buyers and these areas have seen a significant upsurge in growth.”

If Warner needs to take off for a while as the dust settles, the properties would probably do well as short-term rentals. “There’d be big demand on Airbnb,” Wilson says.

Video of David and Candace Warner arriving at Kingsford Smith from Dubai

With almost all their wealth in Sydney property, his portfolio has been structured so as not to leave him overexposed in the event he couldn’t earn an income. That was about protecting against the possibility of permanent injury, not being banned.

Property is favoured by financial managers of athletes because it cannot be as easily liquidated and therefore cannot be used by the players to fund lavish lifestyles.

The Warners have still enjoyed the high life. David’s wife Candice especially enjoys the trappings of her husband’s sporting fortunes. In February, she was spotted test-driving a bright orange McLaren sports car, the spoils of the former Ironwoman star’s new life as an Instagram blogger.

Australian cricket vice captain David Warner and his wife Candice have secured a bullish $7 million plus sale of their South Coogee home three weeks ahead of its intended auction.
Australian cricket vice captain David Warner and his wife Candice have secured a bullish $7 million plus sale of their South Coogee home three weeks ahead of its intended auction.

Warner has also rewarded himself with expensive wheels, buying a $450,000 Lamborghini Huracan with a top speed of 325km/h. They’ve also owned a Mercedes SUV, more suitable than the speed machines for driving their two daughters Ivy Mae and Indi Rae to daycare.

It’s thought that the guiding principle in structuring Warner’s finances has been to ensure that his family could live mortgage-free in their primary residence if everything else had to be sold.

Warner will be hoping it doesn’t come to that and that he will soon be embraced by lucrative T20 leagues around the world, if not ever again in the baggy green.

Warner could earn an estimated $4 million a year playing various Twenty20 competitions around the world.

“He could probably retire right now,” one source says. “The question is, what would their lifestyle be like?”

Unlike many other high-profile players, a career as a TV commentator is not an option for Warner and it will be slim pickings when it comes to endorsements.

Along with many of the Test players, his financial affairs are managed by high-profile Sydney accountant Anthony Bell, who declined to comment when contacted.

This is a stunning downfall.

After Warner successfully captained Australia’s undefeated campaign in the Twenty20 series earlier this year, high-level discussions were had about giving him the role full-time as a replacement for Smith, who would retain the Test and one-day captaincy.

Warner in his Sydney hotel room

Warner’s upgraded CA contract would have seen him earn $6 million in the next 12 months. As it stands, he’ll get nothing.

But the sympathy shown for Smith and Bancroft in the past few days has not extended to Warner, whose on-field aggression has angered rivals and the public.

His personal snipes against England’s Jonny Bairstow during the Ashes last summer still rile players in their camp.

Warner was the “attack dog” for the team, leading the pack when it came to verbal taunts to distract opposition batsmen. It was a mentality fostered by Lehmann and the team’s leaders, and accepted by CA’s suits.

Cricket historian and journalist Mike Coward says the culture has deteriorated for the past three decades.

Steve Smith and David Warner. Picture: Getty
Steve Smith and David Warner. Picture: Getty

“It has been well known for some years that there is dissatisfaction with the culture of the Australian cricket team,” he says. “It is staggering that no one has been called to account before this.

“There’s often been talk of the boorishness and triumphalism and the poor behaviour, but it’s been allowed to build and build.

“The board of Cricket Australia, the CEO, the coaches, the captain — all of them have to take some responsibility for the indisputable slide of standards of a once proud cricket nation.”

Dave Warner at his Coogee home. Photo: Bob Barker.
Dave Warner at his Coogee home. Photo: Bob Barker.

Warner is today’s embodiment of this cultural decline. He has always been an outsider in the team circle, however.

Early in his Test career, Warner would be seen sitting alone staring into his phone at hotel bars, while his teammates drank together in their own huddles. Now, he brings his family on tour and spends most of his time with them.

At the moment the team is largely separated along state lines and the bowling group in the drinking groups. The pacemen will be huddled together, while the West Australians and Queenslanders have their own cliques, and skipper Steve Smith flits easily between all groups.

Warner does not easily fit in with any of them.

He is the team loner.

Lehmann steps down as cricket crisis reaches fever pitch

“They respect him as a cricketer but not so much as a bloke,” one insider said.

But a former Australian teammate says Warner is a victim of the system.

“Davey is a scrapper from Matraville — he comes from nothing. He is the perfect example of going from shithouse to penthouse,” the teammate says.

“He is a fighter; that is just in his personality and it comes through in his cricket.

“He’s done it the hard way, and that shapes you as a person.

Everything Davey does, he’s in a fight, he’s in a battle.

“And it becomes harder and harder to draw the line.

“When you are in a professional sporting team, it’s all about winning — nothing else matters.

“There’s a whole lot being said about sticking true to your values, but there’s another side that pays for your mortgage and lifestyle.

“Put your values on one side and $5 million on the other side, and tell me you’re not thinking about sacrificing your values. And if you tell me you aren’t, you’re lying.

“Davey did everything he could to win because he is a scrapper, and it was all about beating down South Africa.

“In the heat of the moment, when you’re vulnerable, he wasn’t thinking about his values, but what do I have to do to win.”

Warner’s rags-to-riches story — from earning $12 an hour stacking shelves at Woolies while living in housing commission, to earning millions around the world — is well recorded.

In his early days, Warner was a heavy gambler and drinker.

But he was also very generous, a trait he retains today with those close to him, despite being more financially savvy and less of a party animal than he once was.

Warner once shouted a group of six mates an overseas holiday after earning his first big contract.

On another occasion during boozy celebrations after a win, the young superstar began mingling with the punters.

Around midnight, with most on swaying legs, Warner waltzed back in and began to pour wine from a carafe to everyone within sight.

Steve Smith and David Warner of Australia celebrate with the Ashes Urn (Picture: Getty Images)
Steve Smith and David Warner of Australia celebrate with the Ashes Urn (Picture: Getty Images)

“What is it?” asked one tipsy guest. “It’s Grange,” Warner replied without batting an eyelid.

Warner brought two old school friends with him to India when he was playing in the IPL, and spent every night with them, shouting them.

They still travel regularly with Warner on tour; three school chums from the rough streets of Sydney frequenting the marbled bars of international hotels.

Warner is extremely protective of his wife and children.

After he attacked batsman Quinton de Kock for an hour in Durban, the South African bit back with a reference to Candice’s infamous tryst with rugby star Sonny Bill Williams.

Warner was outraged, and exploded as he is prone to do.

Now, it appears he’s been abandoned by his teammates.

Warner will show today whether he wants to take his medicine, lose a fortune, and try to rebuild a career, knowing he’ll never achieve his dream of captaining the Australian Test team.

Or he can turn on his teammates, like he has done so viciously against rivals for years.

Original URL: https://www.dailytelegraph.com.au/news/nsw/david-warners-fortune-is-in-jeopardy-after-cheating-scandal/news-story/884e710ceb2d60f3993503851534b563