Saxo Bank to end Sponsorship after 2010

The Danish internet based banking company, Saxo Bank has announced they will pull out of sponsoring Bjarne Riis Pro Tour squad one year earlier than the initial contract period.


On Friday Saxo Banks CEO Seier Christensen said the relationship had been “fantastic” for the general branding of the company but “had not been optimal to reach the bank’s narrow target group.”

This news falls on the heals of another announcement that the failure to replace IT Factory as a supporting sponsor would force the team to run a slightly reduced schedule in 2010. In addition the team has seen an exodus of some key players, Alexandr Kolobnev, Lars Bak, Kurt-Asle Arvesen and Karsten Kroon.

With the teams amazing track record of success and an entire year to search, securing a new title sponsor would seem almost a formality, but the failure to replace IT factory late in 2009 foreshadows some doubt.

In the Danish paper, Jyllands-Posten, Bjarne Riis said, “I am not worried, I think there's a little too much focus our on finances and who we have lost; I do not think there is any reason to be concerned.”

Although Saxo Bank DS Kim Anderson told the same paper, "It is clear that we can not go and get quite as many victories,"

Despite the reduced schedule and departing talent the teams focus on the Classic and Tour de France are unchanged. If Andy Schleck is to become a Tour champion 2010 would be very good year to do it.