The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Saxo to end cycle sponsorship

Cycling sources in the FX market (There is such a thing? Ed.) say that Saxo Bank is poised to announce it will stop sponsoring its professional cycling team at the end of 2010. The bank's decision to take over the sponsorship of Team CSC, run by former Tour de France winner Bjarne Riis, was announced in the summer of 2008 and initially raised some eyebrows in the FX market. However, the decision paid dividends when Spain's Carlos Sastre won the 2008 Tour de France. In 2009, Saxo's Andy Schleck, widely considered as one of the most talented young riders in the sport, came second, while his older brother Fränk came fifth.


Although Saxo has never said how much the sponsorship cost, it has increased brand awareness globally. The bank has given Riis an unusually long time to find a replacement sponsor; his cause will be helped no end if the younger Schleck manages to go one better in this year's Tour. If so, expect the Danes to be out in force again ­on the Champs-Elysées in July.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree