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Saxo Bank commits to Riis for another year

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The new Saxo Bank Tinkoff team kit

The new Saxo Bank Tinkoff team kit
(Image credit: Saxo Bank Sungard)
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(Image credit: Bettini Photo)
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Oleg Tinkov had his own champagne to celebrate with.

Oleg Tinkov had his own champagne to celebrate with.
(Image credit: Bettini Photo)

With their agreement due to expire at the end of the current season, Danish investment firm Saxo Bank has extended its sponsorship of Bjarne Riis' team for one more year.

Saxo Bank founder Lars Seier Christensen told Ritzau that they had come to an arrangement with co-sponsor Oleg Tinkov.

"We have committed to the team again. And we've also come to a definitive agreement with our Russian friend," Christensen said.

Tinkov said earlier this month that he was likely to up his stake in the team which would result in the squad being named Tinkoff Bank-Saxo Bank. Christensen indicated that the slight name change may well be on the cards.

"I am not particularly swayed to one or the other. So it can be anything. I guess basically it's a question of who would want it most. That is a question of money," he explained.

"We would like to have a good cooperation with Oleg. I have 'commited' to next year. It's now about what Oleg will do."