Saxo Bank renews sponsorship for 2012

Bjarne Riis' seemingly annual search for a new sponsor has come to an early end, as Saxo Bank has announced it will stay on for another year. The Danish bank will remain name sponsor along with SunGard in 2012, Riis announced Tuesday. The team will continue to be known as Saxo Bank-SunGard.

”It is indeed a great day for our cycling team,” Riis said in a press release. "Saxo Bank is an extremely professional company, so I am proud that Saxo Bank has strong faith in our work and continues to see the commercial benefits in sponsoring our team.”

“Since 2008 we have shown in both words and actions that we are a great match, and I am convinced we will continue to grow together because of the obvious benefits in a long term relationship. The continuity in our partnership also means a lot for the riders and for me personally. Now we can focus all our attention on creating results and the working process of putting together a strong rider group for next year.”

Saxo Bank has been a sponsor with the team since 2008. Its sponsorship contract expired at the end of last season, but was renewed after Alberto Contador's signing.

“Saxo Bank has always believed it was a sound commercial decision to support Bjarne Riis and the rest of the team but at the same time, it is hard to exaggerate the impact Bjarne Riis has on Danish and international cycling,” said bank CEOs and co-founders Kim Fournais and Lars Seier Christensen.

“We have a genuine desire to support Bjarne and provide the team with the necessary resources it takes to stay on top. Bjarne Riis and the team are a huge inspiration and motivation for many young talents, and Saxo Bank is proud to continue to ensure a world class cycling team in Denmark.”