Velon was created in 2014 by 11 WorldTour squads, replacing an initiative supported by outside business interests to create a breakaway league in pro cycling. Velon's aim is to "drive a financial model that, in line with other international sports, ensures a sustainable future for the teams".
By becoming shareholders, Bora-Hansgrohe earn a seat on the Velon Board and have a say in the future direction of the company's efforts.
Team general manager Ralph Denk said, "It is important for our sport to think about future developments. I think there is a big overlap in the vision of Velon and my vision of future cycling.
"They launched a lot of great projects, some may need small adjustments, but you need to be part, to be able to influence those adjustments. That's why we decided to join Velon."
Velon's public-facing efforts have included publishing compliations of videos taken during races from Velon riders' onboard cameras and releasing power data summaries of riders' efforts. The group also promotes the Hammer Series events.
Peter Sagan found the video content from the Tour de Suisse to be appealing. "It's good that fans get some more insights of what racing at the highest level is about. There will be a lot more to check out in the future," Sagan said.
Since its inception, Velon has worked to solidify business strategies in "media rights, content production and the development of technology" in an attempt to generate revenue for teams. Of the 11 founding member teams, the Tinkoff squad was disbanded, so the addition of Bora-Hansgrohe brings the shareholders back to 11.
There are 11 other partner teams which also participate in the live data tracking and video production. AG2R La Mondiale, Astana, Groupama-FDJ, and Katusha-Alpecin are the only WorldTour squads that remain unaffiliated with Velon.
Velon shareholding teams: Bora-hansgrohe, BMC Racing Team, EF Education First-Drapac p/b Cannondale, Lotto Soudal, Mitchelton-Scott, Quick-Step Floors, Team LottoNL-Jumbo, Team Sky, Team Sunweb, Trek-Segafredo, UAE Team Emirates.
Velon partner teams: Bahrain-Merida, Movistar Team, Team Dimension Data, Androni Giocattoli Sidermec, Bardiani CSF, Caja Rural Seguros RGA, Gazprom-Rusvelo, Israel Cycling Academy, Nippo Vini Fantini Europa Ovini, Team Cofidis, Wilier Triestina-Selle Italia