The Phonak Cycling Team has signed a new presenting sponsor in Barclays Global Investors and its brand "iShares", the team has announced. The deal is for one year, and neither party will disclose how much money is involved. "With iShares we are getting a partner who is renowned as a global player and one who is committed to the sponsorship of professional cycling," said ARcycling owner Andy Rihs. "These are the best prerequisites for an ideal, long-term partnership."
iShares spokesman Lee Kranefuss said, "We believe that a partnership with one of the world's best cycling teams is an ideal multiplier for our message and that it will help to increase the name recognition of the iShares brand world wide."