Men's professional cycling is in good economic health, the UCI has announced. The total budget for men's pro teams has increased by 36.5% since 2009, with salaries taking an equal jump.
“This result shows that cycling is in a healthy position and resisting the effects of the current global economic downturn,” the UCI said in a statement concerning a report from auditors Ernst & Young.
“In 2009, the total budget for the 39 professional men`s teams was 235 million euros. In 2012, there are 40 professional teams (18 UCI ProTeams and 22 UCI Professional Continental Teams) with a total budget of 321 million euros, according to the Ernst & Young report on the economic situation of the professional peloton. This represents an increase of 36.5%.”
Sponsor investment is on the rise as well. “In 2012, there are 61 principal sponsors for the 40 professional teams, providing 73% of the teams’ revenue. This figure increases to 95% when grouped with the remaining sponsors.”
The riders also benefitted directly from the good financial climate, with average salaries going from 190,000 Euros in 2009 to 264,000 Euros in 2012.
UCI President Pat McQuaid was pleased with the upswing. “It is very pleasing to see that the men`s professional cycling is prospering in these difficult times. Most of the cyclists within the professional peloton can live very well, or at least comfortably, on their salaries thanks to the support of sponsors who invest in this sport. These sponsors are attracted by the extremely good visibility cycling provides them throughout the year.”
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