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Saxo Sponsorship Deal Represents Good Value, Expert Says
03-08-2010
15:34
Saxo Bank’s announcement that that it is to extend its sponsorship of the Riis cycling team represents good value for the Danish investment bank, a sponsorship expert has told TV2.dk
Saxo Bank director Lars Seier Christensen confirmed in a press conference today that his company would be the co-sponsor of the “Saxo Bank-SunGard Professional Cycling Team” throughout 2011. Although no figure was given, the deal is believed to be worth between DKK 30 and DKK 50 million.
The new agreement, which means that Saxo Bank’s brand will feature prominently in next year’s Tour de France, represents good value for the Danish company according to Thomas Beirholm from business advisory firm Promovator
"The exposure value far exceeds what they have to pay for sponsorship at this time” Beirholm told TV2. “So it looks like a good deal for Saxo Bank".
“Bjarne Riis has delivered excellent results over the past couple of years and has an impressive plan for 2011” Kim Fournais and Lars Seier Christensen, co-CEOs and founders of Saxo Bank, said in a joint statement. “We believe it's important to recognize an unprecedented opportunity when you see one and therefore we have decided to continue our sponsorship for one more year”.
Saxo Bank has sponsored the team since 2008 and took over as the main sponsor on 1 January 2009. Beirholm told TV2 that the extended deal could create added value for Saxo worth up to four times the price paid.
Saxo Bank director Lars Seier Christensen confirmed in a press conference today that his company would be the co-sponsor of the “Saxo Bank-SunGard Professional Cycling Team” throughout 2011. Although no figure was given, the deal is believed to be worth between DKK 30 and DKK 50 million.
The new agreement, which means that Saxo Bank’s brand will feature prominently in next year’s Tour de France, represents good value for the Danish company according to Thomas Beirholm from business advisory firm Promovator
"The exposure value far exceeds what they have to pay for sponsorship at this time” Beirholm told TV2. “So it looks like a good deal for Saxo Bank".
“Bjarne Riis has delivered excellent results over the past couple of years and has an impressive plan for 2011” Kim Fournais and Lars Seier Christensen, co-CEOs and founders of Saxo Bank, said in a joint statement. “We believe it's important to recognize an unprecedented opportunity when you see one and therefore we have decided to continue our sponsorship for one more year”.
Saxo Bank has sponsored the team since 2008 and took over as the main sponsor on 1 January 2009. Beirholm told TV2 that the extended deal could create added value for Saxo worth up to four times the price paid.
*****||*****Saxo Sponsorship Deal Represents Good Value, Expert Says*****||*****Saxo Bank’s announcement that that it is to extend its sponsorship of the Riis cycling team represents good value for the Danish investment bank, a sponsorship expert has told TV2.dk*****||*****
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