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by Matt de Neef
October 2, 2017
In today’s edition of the CT Daily News Digest: Dan McLay wins the Tour de l’Eurometropole; Luis Leon Sanchez solos to victory at the GP Bruno Beghelli; Giovanni Visconti takes solo win at the Giro dell’Emilia; Davide Rebellin wins the Tour de Banyuwangi Ijen … at 46; French amateur caught using a motor in Cat 3 race; Esteban Chaves to miss Lombardia defence after breaking shoulderblade; Simon Clarke re-signs with Slipstream Sports through 2020; Teams announced for Tour of Turkey, WorldTour status likely in jeopardy; Team Sky reveals 2016 budget of £31 million.
Team Sky have released their accounts for the 2016 season, revealing a budget in excess of £31 million (AU$52 million). That’s a 27% increase on the previous season’s budget and a more than doubling since the team first entered the pro ranks in 2010.
The expanded budget for 2016 came from sponsorship increases from the team’s three main backers: Sky UK Limited, 21st Century Fox and Sky Italia. Meanwhile, staff wages accounted for the largest slice of the budget: £24.338 million in 2016, up roughly £7 million on the year before. This is likely due to the signings of Michal Kwiatkowski and Mikel Landa, and re-signing of Chris Froome at the start of 2016.
Here’s what The Inner Ring concluded about Team Sky’s 2016 accounts:
“The team budget of £31.1 million is huge but so is the change on the previous year. Team Sky is in a luxurious position being able to tap its sponsors for funding increases like this when other squads have more contained budgets and they have to run just to keep up. But comparisons with other teams are hard and sometimes impossible given the lack of data, even the headline budget numbers let alone a set of accounts to flick through.”
For further analysis on Team Sky’s accounts, head to The Inner Ring.