Red Bull on the verge of taking over Bora-hansgrohe
A cycling coup is in the offing: Red Bull is on the verge of acquiring a majority stake in the German racing team Bora-hansgrohe. The cycling team confirms the desired partnership - and is probably hoping to close the gap to the top teams with a financially strong sponsor.
The German professional cycling team Bora-hansgrohe is on the verge of a majority takeover by Red Bull. According to a statement from the Austrian Federal Competition Authority, a "planned acquisition process" was notified on December 29, 2023.
According to the notification, the energy drink manufacturer, which is omnipresent in sports sponsorship, plans to purchase 51% of RD pro cycling GmbH & Co KG, managed by Bora-hansgrohe team boss Ralph Denk, and RD Beteiligungs GmbH. Before the deal is finalized, the takeover is subject to an antitrust review.
The currently best German team with riders such as Lennard Kämna, Emanuel Buchmann and newcomer Primoz Roglic confirmed the planned partnership this afternoon. "As a partner of team manager Ralph Denk's operating company, Red Bull will complement the portfolio of existing long-standing main sponsors, who will continue to be involved in the team in the long term," it said in a statement. The planned joint venture has been registered with the relevant competition authority. No further comment will be made on the subject for the time being, "as we do not want to pre-empt the ongoing review by the Federal Competition Authority."
For the German team, it would be the next coup after the team recently signed Giro d'Italia winner Roglic from Slovenia for the new season. The arrival of the financially strong sponsor could also close the gap between Denk and the top teams such as Visma-Lease a Bike, UAE or Ineos, which have dominated cycling in recent years.
Red Bull, which is also a major sponsor in Formula 1 (with its own racing team) and soccer (including the RB Leipzig and Red Bull Salzburg teams), has so far partnered with individual riders in cycling. In addition to the German Bora-hansgrohe pro Anton Palzer, these include the top stars Wout van Aert (Belgium) and Thomas Pidcock (Great Britain).
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With Red Bull's acquisition of a majority stake in Bora-hansgrohe, the team hopes to challenge the dominance of top cycling teams like Visma-Lease a Bike and UAE. Red Bull's energy drinks have been a staple in sports sponsorship, and now they're set to boost the performance of their new cycling partner.
Source: www.ntv.de
