Rabobank confirms team sponsorship through 2016
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Wednesday, December 01, 2010

Rabobank confirms team sponsorship through 2016

by Ben Atkins at 1:18 PM EST   comments
Categories: Pro Cycling
 
Six more years guaranteed for iconic orange and blue team

rabobankRabobank has confirmed that it will continue to sponsor its iconic orange and blue team through 2016, extending the current deal which was to expire at the end of 2012. The bank has sponsored the team since 1996, and this latest deal will see its colours grace the peloton for an incredible 21 years.

Velonation reported that the Dutch bank was considering an extension to its contract, and the good news has been confirmed today.

“At Rabobank we have the utmost confidence in the future of cycling and in the quality of our teams,” said Bert Bruggink, CFO of the Rabobank Group, “Which is one of the reasons why we present the riders today their new Rabo-dress. Together with the contract extension, I expect that we will have six more beautiful and inspiring cycling years ahead”

The deal is reportedly worth €15 million per year to the Rabobank teams, and the bank is also contributing an extra €10 million per year towards the wider cycling arena in the Netherlands.

“We know that this sponsor project is good for us,” Bruggink continued. “Research shows that many Dutch people and above all our customers really appreciate it. Cycling really fits Rabobank. This year we had a mid-term review and decided that it is good to continue with it.”

The team has existed since 1984, when it was sponsored by Kwantum, although it can trace its roots even further back to the TI-Raleigh team of the 1970s. It had a number of sponsors over the years, including Buckler and Wordperfect, before Rabobank took over in 1996.

“Also, with this extension we speak of our confidence in the team,” he added. “There is now a solid structure, and the future is solid. We are giving the team the opportunity to build the structure further. Talents will thus get the time to develop within the Rabobank cycling team.”

As well as its domestic market, Rabobank’s overseas offices in Australia and the United States have reported positive feedback from the exposure gained by sponsoring the team.

“Almost all local banks believe that Rabobank should continue cycling sponsorship,” Bruggink concluded. “All in all, there were more than enough reasons for the board to agree to a contract extension of four years to 2016.”

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