Rabobank Quits Pro Cycling

[Dennisch]

AMSTERDAM—Dutch Rabobank Group Friday said it would stop sponsoring one of the world's largest professional cycling teams, in the latest blow to a sport that is dealing with the aftermath of a report about the alleged drug use of Lance Armstrong.

"We are no longer convinced that the international professional world of cycling can make this a clean and fair sport," Rabobank said in a statement. "We are not confident that this will change for the better in the foreseeable future."

Rabobank said it would end sponsorship of both the men's and women's professional teams by the end of this year. It said it would continue its ties with amateur cycling. The Dutch bank is the latest major sponsor to distance itself from cycling following allegations that former champion Mr. Armstrong participated in the use of doping to boost his performance.

More.

I don't know what to think of it. I just hope that the cycling team finds a new sponsor, because they did have some good talents, and seasoned pros.

 

[PzR Slim]

I reckon they are just using the current scandal as a way out. They are not doing great as a company so it's probably hard to justify the big spend and this is their chance to get out.

 

[Dennisch]

The Rabobank is one of the most credit worthy banks in the world. So I hardly think that financial issues are the reason the quit.

 

[PzR Slim]

The Rabobank is one of the most credit worthy banks in the world. So I hardly think that financial issues are the reason the quit.

Tough to justify these big expensive sponsorship deals when you are planning to cut 3000 jobs in the next few years.