Holden is set to maintain its sponsorship of the Collingwood Football Club following Eddie McGuire's drowning comment about Caroline Wilson. However, the structure of its sponsorship is set to change.
The Herald Sun has reported that Holden will redirect over half of its sponsorship dollars to the Collingwood women's team and the club's community programs.
Holden announced in June that it was reviewing its sponsorship of the club following McGuire's comments regarding Wilson last month.
"Holden categorically disapproves of Eddie McGuire's inappropriate comments, along with those of his co-hosts," Holden said in a statement.
"Holden prides itself on diversity, inclusion and social responsibility - they are cornerstones of our business.
"Comments like these, regardless of their intent, have no place in today's Australia and reflect poorly on the Collingwood Football Club, it's fans, stakeholders and sponsors. Unfortunately, it can call into question the culture of the club, overshadowing good work done in the diversity space and local communities.
"Holden is engaging with Collingwood to directly express our disappointment and discuss the future of our sponsorship."
Holden's sponsorship of the Magpies is said to be worth up to $1.5 million per year.
I would prefer the Pies didn’t have Holden as a our sponsor. Not a great brand in the first place and certainly better options out there for naming rights on our training/admin facilities down on Batman Ave.