Danish bank pulls out early as main sponsor of cycling team Saxo Bank
By APFriday, January 8, 2010
Danish cycling team Saxo Bank loses sponsor early
COPENHAGEN, Denmark — Denmark’s Saxo Bank is cutting short its main sponsorship deal with the cycling team that bears its name.
Saxo Bank chief executive Lars Seier Christensen says the bank would stop sponsoring the team by the end of 2010, a year earlier than expected. The Danish Internet-based bank became sponsor in 2009 for a three-year period.
Seier Christensen said Friday the sponsoring had been “fantastic” for the general branding of the company but “had not been optimal to reach the bank’s narrow target group.”
The present Saxo Bank team includes riders Andy Schleck and Frank Schleck of Luxembourg, Fabian Cancellara of Switzerland and Matti Breschel of Denmark.
YOUR VIEW POINT
