Team Saxo Bank with a new bank co-sponsor?

[jyhjyh]

According to:

http://www.feltet.dk/ (cycling site)
and
http://finans.borsen.dk/artikel/1/235768/ny_banksponsor_til_bjarne_riis.html (financial magazine)

Brief translation from Danish:
The bank is no longer exclusive sponsor.
Saxo Bank gives half ownership to a foreign bank, it is reported.

There will be a press conference on Monday.

So maybe: Team Santander - Saxo Bank or Saxo bank - Santander?

 

[metaCYCLE]

i find the Santander rumour as being very strange. i cannot see two banks sharing the shirts of the same team. it's like having Pepsi and CocaCola on the same kit.

we'll see...

 

[Machu Picchu]

i find the Santander rumour as being very strange. i cannot see two banks sharing the shirts of the same team. it's like having Pepsi and CocaCola on the same kit.

we'll see...

Saxo/Santander not exactly direct rivals although obviously some overlap in investment banking, could be the only way though for Santander to get on the Contador train though until the Saxo contract runs out.

 

[pugdog]

Is this the Santandar-Alonso-Contador's rumour being given a new twist?

 

[metaCYCLE]

Saxo/Santander not exactly direct rivals although obviously some overlap in investment banking, could be the only way though for Santander to get on the Contador train though until the Saxo contract runs out.

i agree that they probably don't fight over the same market, but it's still a bit awkward from a marketing pov. I simply can't remember a similar situation.

 

[Ferminal]

Saxo/Santander not exactly direct rivals although obviously some overlap in investment banking, could be the only way though for Santander to get on the Contador train though until the Saxo contract runs out.

Indeed.

It depends if the team stays Danish or not. If it's under a Danish flag then Saxo can justify it, but if it were under a Spanish flag then Saxo would probably call time. Although we should be honest, Riis has been looking for sponsors to replace Saxo for years. The relationship with Saxo is on the basis that there was no one else and that Saxo would keep the team going as a last resort - it's very much a personal deal with Riis.

 

[rxgqgxnyfz]

There was a weird rumour of some russian big sponsor coming in for Saxo team yesterday, covering Contador contract.

 

[Publicus]

Seems like it is definitely happening. I wonder if they will debut new kits for the Tour.

 

[OctaBech]

Is this the Santandar-Alonso-Contador's rumour being given a new twist?

Yes and No, it's the announcement of a press conference where the awaited co sponsor will be announced, spiced with a rumour about the winner of the co sponsorship bidding is a bank.

 

[Machu Picchu]

Seems like it is definitely happening. I wonder if they will debut new kits for the Tour.

If it is Santander then they may want to hold back and wait for Señor Contador to return - big unveiling for Vuelta.

 

[Publicus]

Indeed.

It depends if the team stays Danish or not. If it's under a Danish flag then Saxo can justify it, but if it were under a Spanish flag then Saxo would probably call time. Although we should be honest, Riis has been looking for sponsors to replace Saxo for years. The relationship with Saxo is on the basis that there was no one else and that Saxo would keep the team going as a last resort - it's very much a personal deal with Riis.

It could be that the new sponsor is coming in for the remainder of the season and then will be the lead sponsor next year.

If it is Santander then they may want to hold back and wait for Señor Contador to return - big unveiling for Vuelta.

The Tour is the biggest marketing event on the cycling calendar. I suspect that is the reason they are announcing this now. I expect new kits for the Tour/remainder of the year.

 

[OctaBech]

Saxo/Santander not exactly direct rivals although obviously some overlap in investment banking, could be the only way though for Santander to get on the Contador train though until the Saxo contract runs out.

Heck they might be partners, seeing that Saxo is a white label company working with many of the big banks.

 

[jyhjyh]

Indeed.

It depends if the team stays Danish or not. If it's under a Danish flag then Saxo can justify it, but if it were under a Spanish flag then Saxo would probably call time. Although we should be honest, Riis has been looking for sponsors to replace Saxo for years. The relationship with Saxo is on the basis that there was no one else and that Saxo would keep the team going as a last resort - it's very much a personal deal with Riis.

I think you are right.
But I don't think that Riis will change the Danish flag.

Maybe Saxo Bank will stop their sponsorship as co-sponsor from 2013?

Could be Team Santander - Anfi from 2013 and hopefully more than 1-year on

 

[OctaBech]

I think you are right.
But I don't think that Riis will change the Danish flag.

Maybe Saxo Bank will stop their sponsorship as co-sponsor from 2013?

Could be Team Santander - Anfi from 2013 and hopefully more than 1-year on

I hope not, Anfi's sponsorship was smaller than the Saxo one.

 

[jyhjyh]

I hope not, Anfi's sponsorship was smaller than the Saxo one.

Yes, but they have said that they will a step up.

 

[OctaBech]

Yes, but they have said that they will a step up.

No I meant even after the increase, as their plan was to become the second name sponsor instead of the first.

 

[jyhjyh]

Better English version than my translation

From http://c-cycling.blogspot.dk/2012/06/is-santander-finally-stepping-into.html:

Is Santander finally stepping into cycling?

Is Santander Bjarne Riis' new sponsor?
For many years there have been rumors of the Spanish bank Santander wanting to try out cycling as main sponsor of a cycling team with a Spanish star on their roster.

On Friday the 22nd of June, CEO of Saxo Bank – current main sponsor of Bjarne Riis’ cycling team with Alberto Contador – Lars Seier Christensen confirmed they will have a press conference on Monday the 25th together with the cycling team.

According to the Danish financial newspaper Børsen, Saxo Bank will give up half of their sponsorship to a foreign bank (meaning not Danish) and step down as main sponsor for the cycling team. Only a few weeks ago Alberto Contador signed a new contract with Bjarne Riis running to the end of 2015 and knowing that Santander has been trying to find the right time to invest in cycling, Alberto Contador sure is one of the best ways.

CEO of Santander, Alfredo Saenz, was the man behind Miguel Indurain and the Banesto team back in the 90’s when he single-handedly turned Banesto from bankruptcy to success with Miguel Indurain winning five consecutive Tour de France wins.

Asked if Bjarne Riis will reveal Santander as the new sponsor for the his cycling team, press officer Anders Damgaard simply told me “no comments” . Well, he could have just said no...

 

[jyhjyh]

No I meant even after the increase, as their plan was to become the second name sponsor instead of the first.

Ah ha - I did not know that

 

[Fidolix]

My take is, it´s Santander - Saxo bank as main sponsors, with Anfi Group as co sponsor waiting to step in when Saxo stops the sponsorship in 2013.

The announcement already before the tour i think have to do with the fact that Riis have to negotiate new contracts during the tour, they probably need the WT points and therefor new riders to secure the WT licens.
He therefor need to know the budget...

Riis been saying since february he had a huge puzzle that had to go up and he was working hard to make it happen, Im also sure that AC must have set some conditions for him to continue on the team, the mildly put miserable display last year in the tour where he basically were on his own, didn´t exactly put the team in a positive light.

It looks like the mission is accomplished

 

[RedheadDane]

I have to say I'm a little disappointed that it's not a bank which actually has the word 'bank' in its name. That would be rather cool! Team Saxo Bank [insert here] Bank.

 

[JPM London]

Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...

 

[OctaBech]

I have to say I'm a little disappointed that it's not a bank which actually has the word 'bank' in its name. That would be rather cool! Team Saxo Bank [insert here] Bank.

a) Gingers have no soul

b) Banco Santander The initial letters will make some nice palindromes; SBBS or BSSB.

 

[Publicus]

Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...

Not likely. If it was a merger, there wouldn't be a point time where the two co-existed as, by the nature of mergers, the completion of the merger extinguishes the existence of one of the merging parties. Moreover, to the extent a merger agreement had been signed, it would have been announced by now and we wouldn't need to speculate.

 

[OctaBech]

Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...

No, then the new bank wouldn't have to buy the sponsorship from Saxo.

When that is said, Saxo is indeed up for sale. The "bank's" market value was 3billion euro two years ago, but it's rapidly expanding.

 

[Publicus]

Just saw on twitter that Riis has confirmed press conference for Monday:

@mrconde: Riis Cycling confirm press conference on Monday at 13:00 CET - "Riis has important news about the future of the cycling team". #cycling