Cycling-Saxo Bank to drop sponsorship of Tinkoff-Saxo team (Reuters)
Saxo Bank will not renew the sponsorship of the Tinkoff-Saxo professional cycling team for another season, the Copenhagen-based online foreign exchange brokerage firm said on Thursday. Saxo Bank has sponsored the team with riders such as multi-grand tour winner Spaniard Alberto Contador and sprinter Peter Sagan from Slovakia for the past eight seasons. Speculation around the bank’s departure from the sponsorship has been going on for a while after team manager Bjarne Riis left the cycling outfit in March after a dispute with Oleg Tinkov, founder of Russia’s Tinkoff Bank, which is the other main sponsor for the team.