The reports that emerged earlier this week touting Spanish company Repsol could come on board as a second sponsor for the Movistar teams next season are now looking to be premature.
Following the announcement that Shell is set to be a backer for British Cycling for eight years, claims that another petrochemical giant was planning to join the professional cycling scene sparked considerable interest.
That was particularly the case when it was reported that the new sponsor would double Movistar's current budget for its men's and women's teams and place it in the €35-40 million bracket.
However, when the Repsol-Movistar story broke late last week and then gained major coverage in a Spanish radio station program on Monday, there was no confirmation to back it up. Various media outlets in Spain have now quoted off-the-record denials from unspecified team and company sources that there were ever any discussions between them – let alone the prospect of a deal.
But if the Repsol 'lead' appears to be unfounded, Movistar's ongoing interest in upping the team's budget for 2023-2024 through a second backer remains unchanged. So too, with their former leader Alejandro Valverde now definitively retired, are their hopes of signing talented young racer, Ineos Grenadiers' Carlos Rodríguez in 2024.
After his impressive Vuelta a España performance where he finished seventh in his debut aged 21, together with podium finisher and debutant Juan Ayuso, Rodríguez is viewed as one of the two main up-and-coming prospects for Spanish cycling. However, Ayuso is under contract with his current team until 2028, and Rodríguez's deal with Ineos Grenadiers ends in 2023.
Quite apart from the financial firepower a second sponsor would theoretically bring, the real level of the Spanish team's interest in Rodríguez, who also finished fifth at Il Lombardia, could also partly hinge on current leader Enric Mas' ongoing progression in 2023.
Mas endured a very tough year until this September, but since then he has netted a second place overall in the Vuelta a España for a third time in his career. Mas also claimed second in Il Lombardia last weekend as well as victory in the Giro dell'Emilia the week before, by far his best end of season to date.
For the last 11 years, Movistar have been sponsoring the team, which was created by current owners Abarca Sports in 1980. Movistar's sponsorship deal ends at the end of 2023, although they are widely expected to continue their backing beyond that date.
After an end-of-season dominated by the retirement of Valverde, Mas' bounceback from a difficult summer and a lengthy (and successful) struggle against WorldTour relegation, Movistar are expected to announce the signing of Colombian sprinter Fernando Gaviria from UAE Team Emirates next week. A late addition to their 2023 roster of Portuguese all-rounder Ruben Guerreiro also has yet to be ruled out.
