The prominent cricketing personality recently starred in a television advertisement for XXXX beer, which is a major rival of Foster’s a major sponsor of Cricket Australia.
Foster's corporate affairs spokesman Geoff Donohue, argued that the XXXX affair was a clear case of ambush marketing, a ploy whereby a company sponsors a product connected to an event which actually paying the sponsorship fee associated with the event.
"We think ambush marketing is fairly un-Australian," Donohue said.
"I guess Allan has (resigned as a national selector) in pursuit of his own commercial interests."
Border, who played 156 Tests and 273 one-day internationals and serves on the Cricket Australia board, was a selector between 1998 and 2005 before rejoining in June this year.
"My various commitments are far heavier than I had expected back in mid-year and I don't think it is appropriate to do what is a really important job if I am not able to give it the full attention it deserves," Border said.
Cricket Australia said they had accepted Border's decision with regret but respected his decision.
CA chairman Creagh O'Connor said the board would consider its next steps before it meets at the end of this week.