Saxo Bank ends long-term sponsorship of Tinkoff-Saxo team

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An eight year association with the team now known as Tinkoff-Saxo has come to an end, with the Saxo Bank company confirming today that it is exiting the partnership.

The news was communicated via its Twitter account.

The company’s co-CEOs and co-founders, Lars Seier Christensen and Kim Fournalis commented on the matter. “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.’

The company first began working with the team in 2008, joining CSC as backers of the squad. It was owned then by Bjarne Riis, and he and the company developed an ongoing partnership.

Saxo Bank remained on board after Riis sold the team to Oleg Tinkov in December of last year, but questions were raised about its ongoing participation after Tinkov sacked Riis.

The Dane had taken up a role as manager but fell out with Tinkov at this year’s Tirreno-Adriatico.

He has recently been linked to a bid to buy back the team. While Tinkov told CyclingTips that he would consider selling the squad for the right money, he said that he didn’t believe Riis had the necessary cash.

Unconfirmed reports suggest that Riis would be backed by Seier Christensen if he returns to cycling.

In announcing its split with Tinkov’s team, Saxo Bank has not indicated if it wishes to remain in the sport.

Once complication is that Seier Christensen is reportedly leaving his CEO position with the bank.

Also see:

Report: Riis attempting to buy Tinkoff-Saxo team back from Oleg Tinkov
Oleg Tinkov: I’m open to selling Tinkoff-Saxo for the right money

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