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Saxo Bank denies SunGard as new team sponsor

Fabian Cancellara signs a jersey for a Saxo Bank fan.

Fabian Cancellara signs a jersey for a Saxo Bank fan. (Image credit: Daniel Benson)

Rumours continue to circulate that Team Saxo Bank has found a new sponsor for the coming season, despite a denial by team CEO Trey Greenwood. The new sponsor is said to be SunGard, a US-based IT services company which this year signed up as a minor sponsor.

”It is totally untrue that we would be close to closing negotiations with SunGard,” Greenwood told the Danish website

The team announced in January that Saxo Bank would end its sponsorship of the team at the end of the 2010 season. Only a few days later, the team announced a one-year deal with SunGard as a minor sponsor.

For the last week, rumours have increased that SunGard would take over as the title sponsor for the team, with a press conference said to be planned during the Tour of California for the announcement. Greenwood is in California with the team.

The SunGard logo currently appears on the back of the team shorts. said that SunGard officials attended the Tour of Flanders and Paris-Roubaix, both of which were won by Saxo Bank's Fabian Cancellara.

SunGard, based in Wayne, Pennsylvania, says that it is “one of the world’s leading software and technology services companies,” with over 20,000 employees and 25,000 customers in 70 countries. It “provides software and processing solutions for financial services, higher education and the public sector.”