Cofidis will continue to sponsor a team until the end of 2016 after the telephone loan company announced a three-year extension to its current deal, which had been due to expire at the end of next season.
In a statement released on Friday, Cofidis outlined that its objective was to participate in the Tour de France “and the events with most media coverage” every year. To that end, the sponsor has targeted entry into the WorldTour from 2013 and hinted that Cofidis will be active in the transfer market in the coming months.
“From 2013, it’s necessary for the team to equip itself with recognised and performing riders, who could open up access to WorldTour races,” read the statement.
Cofidis will provide a budget of €9.5 million per year until 2016, which will be the squad’s 20th consecutive season in the professional peloton. “The Cofidis team will have the means […] to allow it to reach the highest level and rejoin the WorldTour,” said the statement.
Cofidis last featured in cycling’s top division – then called the ProTour – in 2009. In the intervening period, the squad has largely focused on the acquisition of French talent, but it remains to be seen if such a policy will change in the wake of Friday’s announcement.