The Qhubeka Assos team has become the Qhubeka NextHash team after the squad signed a deal with a new title sponsor.
NextHash, a parent company for several entities focused on using blockchain technology in finance, is coming aboard with immediate effect as the 2021 Tour de France looms.
The South African WorldTour team has signed a five-year deal with the company, securing its longterm future – at least in professional cycling terms – less than a year after the team nearly disappeared. Shortly after the announcement of a new title sponsor, the team also announced that luxury fashion brand Burberry will also be coming aboard as a sponsorship partner.
After four years as Dimension Data, the team became NTT at the start of last season amid a global restructuring at Dimension Data parent company NTT. After NTT decided that it would not continue in the role of title sponsor, the team spent months searching for a new partner. The squad ultimately stayed afloat thanks to the arrival of Assos as a co-title sponsor.
Moving forward, the Qhubeka charity, with which the team has partnered for years, will remain a part of the name alongside new arrival NextHash, while now-former title sponsor Assos will continue to be the team’s kit partner for 2021. The squad is set to reveal its new kit at Thursday’s Tour de France team presentation.