News: Saxo Bank to continue as title sponsor after split with Tinkoff

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Saxo Bank will continue its involvement with the team managed by Bjarne Riis as title sponsor in 2014 after a split with Tinkoff

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The trading and investment specialist has decided to step up its commitment to the team significantly. Saxo Bank’s support will help to secure the continuation of the team in the year to come.

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Nicolas Roche making headlines for Saxobank-Tinkoff in 2013.

In a joint statement, Kim Fournais and Lars Seier Christensen, co-CEOs and co-founders of Saxo Bank, said: “In the financial industry, cycling is now more popular than golf. Hedge fund managers, brokers, liquidity providers and traders have taken cycling to a completely new level in recent years. The strategic fit between Saxo Bank and this team has always been a major but even more so today.”

“Not only do we have commercial reasons to sponsor this team but our work within the financial markets is driven by passion, determination and teamwork, which also lie at the heart of Bjarne Riis’s team and its riders. They know that only through strong focus, hard work and innate passion will you be victorious.”

Team owner Bjarne Riis is delighted by the renewed partnership with Saxo Bank and the bank’s extra commitment to the team. Bjarne Riis says: “For Saxo Bank to stay with us and at the same time step up its commitment to Riis Cycling makes me both proud and grateful. It shows that Saxo Bank not only continues to see the commercial benefit in sponsoring our team, but also shows strong faith in our work.”

“This is certainly evidence of a great long term partnership, and it gives us the space to continue with our team at a high level while we continue to develop our portfolio of partners for next year and after. We are still in the market looking for additional sponsorship to fulfill our ambitions for the coming years. Building new partnerships takes time, but I do feel we are moving this forward in a very constructive way.”

Back in July, Riis issued a statement saying “During the course of our extensive negotiations with Tinkoff Bank it has become clear that we are unable to settle on common views. The ideas that are necessary for our partnership to grow and be successful for both parties beyond 2013. Most importantly, we disagree on how the team should be run.”

Tinkoff’s Oleg Tinkov had been vocal in his disappointment in Saxo-Tinkoff’s Alberto Contador’s fourth-place performance in the Tour de France in 2013, taking to Twitter to say: “Conta performance wasn’t good. He need to change many things in his preparation and be more PRO. Will he do that? That’s the question…”

 

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