MELBOURNE: Australian cricket great Shane Warne says he is closing the charitable foundation that bears his name after “unwarranted speculation” over its financial management.

Warne announced the foundation's closure on his Facebook page on Friday.

Warne said “in response to recent, unwarranted speculation about The Shane Warne Foundation and its distribution of funds, we confirm we have distributed $3.67 million to date with an additional and final substantial check to be distributed on March 18, 2016”.

The Shane Warne Foundation is to be audited by the Consumer Affairs department of Victoria state.