Disgraced former Australian cricket captain Steve Smith is in danger of losing his swathe of luxurious properties across Sydney as the fallout from his side’s ball-tampering scandal continues.
Smith was set to earn up to $10million this year in wages and multiple sponsorship deals, until he allowed Cameron Bancroft to cheat on his team’s behalf in the third Test against South Africa.
He is now suspended for a year and won’t be able to earn the full amount of his $1.5million base wage – before bonuses – or any of his $2.4million deal with the Rajasthan Royals in the Indian Premier League.
The massive loss of income – compounded by personal sponsors Sanitarium and Commonwealth Bank severing ties – puts Smith’s extensive multi-million dollar property portfolio in danger.
Disgraced former Australian cricket captain Steve Smith (pictured) is in danger of losing his swathe of luxurious properties across Sydney
Smith was set to earn up to $10million this year in wages and multiple sponsorship deals, until he allowed Cameron Bancroft to cheat on his team’s behalf in the third Test against South Africa. Pictured: Smith’s $2million Balmain investment
The massive loss of income – compounded by personal sponsors Sanitarium and Commonwealth Bank severing ties – puts Smith’s extensive multi-million dollar property portfolio in danger. Pictured: Smith’s Coogee apartment, bought for $1.75million in 2011
The former captain owns six properties in Sydney: Three in Balmain in the city’s inner-west, and homes in Coogee, Marrickville and Sans Souci. Pictured: Smith’s $2million Balmain investment
He bought his Coogee apartment (pictured) in 2011 for $1.75million. Smith still lives at the three-bedroom, two-storey property on Berwick Street, which features sweeping sea views
The former captain owns six properties in Sydney – three in Balmain in the city’s inner-west, and homes in Coogee, Marrickville and Sans Souci.
He bought his Coogee apartment in 2011 for $1.75million. Smith still lives at the three-bedroom, two-storey property on Berwick Street, which features sweeping sea views.
Smith’s second investment in the Sydney property market was a 127 sq m one-bedroom apartment in Sans Succi.
The $435,000 unit is on the corner of Rocky Point Road and Russell Avenue, and enjoys Botany Bay water views.
Smith’s second investment in the Sydney property market was a 127 sq m one-bedroom apartment in Sans Succi. The $435,000 unit (pictured) is on the corner of Rocky Point Road and Russell Avenue, and enjoys Botany Bay water views
Smith owns three properties on the Balmain peninsula in inner-west Sydney. Pictured: Beattie Street Balmain
As SS415 Developments Limited, Smith purchased a cottage on Johnston Street (pictured) for $2million in 2015 before knocking it down and replacing it with a charcoal-coloured two-storey modern home
Smith also owns a townhouse on nearby Beattie Street (pictured) which he bought for $1.345million in 2016
Smith owns three properties on the Balmain peninsula in inner-west Sydney.
As SS415 Developments Limited, Smith purchased a cottage on Johnston Street for $2million in 2015 before knocking it down and replacing it with a charcoal-coloured two-storey modern home.
Its casual living area opens up to a terrace with views of the Sydney Harbour Bridge.
The property has been listed for rent, with a rumoured cost of $2000 per week.
Smith also owns a townhouse on nearby Beattie Street which he bought for $1.345million in 2016.
The two-bedroom property in the converted Tin Sheds is also up for rent at $895 per week.
In 2017 Smith spent $1.95million on a run-down, three-bedroom Victorian cottage on Birchgrove Road.
In 2017 Smith spent $1.95million on a run-down, three-bedroom Victorian cottage on Birchgrove Road (pictured)
He has submitted an application to demolish the existing house on the 200 sq m land and build a new two-storey dwelling on it
Completing the portfolio is a two bedroom, two bathroom unit (pictured) in Marrickville, in Sydney’s inner-west, which was bought by Smith in June 2013 for $635,000
Smith (pictured with fiancee Dani Willis) could be forced to sell some of the properties after he allowed Bancroft to cheat under his leadership in Cape Town
The financial cost of his decision – which Smith tearfully admitted he will regret for the rest of his life – is expected to burden the 28-year-old well into the future
He has submitted an application to demolish the existing house on the 200sqm land and build a new two-storey dwelling on it.
Completing the portfolio is a two bedroom, two bathroom unit in Marrickville, in Sydney’s inner-west, which was bought by Smith in June 2013 for $635,000.
But Smith could be forced to sell some of the properties after he allowed Bancroft to cheat under his leadership in Cape Town.
The financial cost of his decision – which Smith tearfully admitted he will regret for the rest of his life – is expected to burden the 28-year-old well into the future.
Finance expert Terry McCrann suggested the impact the scandal will have on his medium and long-term earnings capacity could see him lose up to $100million over ten years in wages and personal sponsors, Herald Sun reported.
McCrann wrote: ‘Smith could have anticipated a Ricky Ponting future; now it’s going to be more a Tiger Woods one.’