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Saxo Bank to retain association with UCI World Tour team

Danish trading and investment specialist Saxo Bank has agreed a one-year extension to its partnership with Tinkoff-Saxo to remain co-title sponsor of the UCI World Tour cycling team for the duration of the 2015 season.

Saxo Bank has partnered with Tinkoff-Saxo since 2008 and team owner Oleg Tinkov had suggested last week that the squad would change its name to Tinkoff Team from next season.

In December, Russian banking group Tinkoff Credit Systems became the main title sponsor of the squad after founder, Russian entrepreneur Tinkov, agreed a takeover deal for the team.

Under the agreement, Tinkoff Credit Systems, the only Russian bank specialising in credit cards, became the main title sponsor of the team over the three-year period running from 2014 to 2016.

The announcement today (Thursday) follows a successful Tour de France for Tinkoff-Saxo, where the team, despite the early loss of two-time champion Alberto Contador through injury, won the King of the Mountains competition through Polish rider Rafal Majka (pictured), along with three stages.

The team said Saxo Bank’s decision to once again renew its sponsorship is based “first and foremost” on the commercial opportunities which the partnership affords.

Team manager Bjarne Riis added: “Saxo Bank… has been a fantastic partner since 2008 and they’ve meant a lot to the team and to me personally. We’ve created amazing results together during these years and their ongoing commitment will ensure stability, which is essential to any cycling team in order to focus on building a strong team and creating results on the road.”