Former Australian cricketer Brett Lee's beer venture, Sydney Beer Company, has gone into administration due to financial struggles. This setback comes just months after the company raised $6 million (₹50.8 crore) for expansion into the U.S. market.

Sydney Beer Company’s Sudden Downfall

🛑 The company, co-owned by Brett Lee and actor Matt Nable, was founded in 2022.
🛑 It failed to sustain profitability, despite selling in Australia and Malaysia.
🛑 The Australian Securities and Investments Commission (ASIC) confirmed that the company could not manage its financial obligations.
🛑 RSM Australia’s Brett Lord and Richard Stone have been appointed as administrators and will decide its fate in a creditors' meeting on March 19, 2025.

Why Did the Business Fail?

🔹 High beer prices amid rising living costs.
🔹 Failure to compete in a saturated beer market.
🔹 Economic policies – The Australian government’s decision to freeze excise duty on draft beer helped pubs but hurt bottled beer businesses like Sydney Beer Company.

Impact of Australia’s Beer Tax Policy

Australian Prime Minister Anthony Albanese announced a two-year freeze on beer excise tax, benefiting pubs, bars, and draft beer sellers but leaving bottled and canned beer businesses struggling.

Albanese stated:
💬 “We are helping small and medium-sized businesses thrive by stabilizing excise duty on draft beer.”

However, this move increased pressure on packaged beer brands, leading to financial struggles for companies like Brett Lee’s Sydney Beer Company.

What’s Next for Sydney Beer Company?

The March 19 creditors' meeting will determine:
✔ Whether the company can restructure and recover.
✔ If assets will be liquidated to pay off debts.
✔ Whether Brett Lee and his co-founders will continue in the business.

This setback highlights the risks athletes face when transitioning into business ventures, even after securing substantial investments.