Online multi-asset trading and investment specialist Saxo Bank today announced its decision not to renew the sponsorship of the Tinkoff-Saxo professional cycling team for another season.
The company reiterated, however, that supporting high performance sports from a business perspective will remain an important feature of the bank’s engagement with its clients and community.
The initiative SaxoSport has seen clients and prospective clients engage in networks focused on high performance sports. The initiative recently had its first endeavour – Ride Like A Pro – where the selected participants lived and trained like cycling professionals and finished the journey with riding a stage of the Vuelta Espana.
Lars Seier Christensen and Kim Fournais, co-CEOs and co-Founders, Saxo Bank, said:
“It has been a privilege working with the team over the past eight seasons and we are extremely proud of the numerous successes we have achieved together during this time. We would like to thank both the current team as well as the heroes from the past, from Bjarne Riis over Alberto Contador, Peter Sagan, the Schleck Brothers, Fabian Cancellara, Carlos Sastre to Matti Breschel, Chris Anker Sørensen and all the other riders whose passion and integrity have boosted the teams and our own brand as a sponsor both in Denmark as well as globally”
“We would especially like to thank Oleg Tinkov, the team’s current owner, and the management of Team Tinkoff-Saxo for the partnership. We look forward to finishing the season in style together as cycling will always have a special place in our hearts and we wish the team continued success”.
“Sponsoring a cycling team has played a key part in building brand awareness at a time of rapid build-out of our international business which todays includes 26 offices around the world. Going forward Saxo Bank will continue to be a strong supporter of high performance sports and will be looking further into opportunities that enable us to sponsor strong individuals across various sports and regional interest. As always any decision regarding potential sponsorships will depend on business potential, results and value of branding,” said Christensen and Fournais.
To view the official press release from Saxo Bank, click here.