Velon, a business association between 11 WorldTour teams, and Tour de Suisse owners InfrontRingier have agreed to a five-year revenue-sharing deal with the aim at elevating the race to a “truly international sporting event”, they announced today.
In exchange for committing to bring all 11 WorldTour teams along with their top riders to the Tour de Suisse through 2020, the teams will get revenue sharing for the first time.
“This new partnership with Velon is based on the common believes (sic) of cooperation in professional cycling and maintains the momentum for Velon and its teams as they move towards establishing new revenue streams alongside traditional sponsorships to deliver greater financial stability and security for the teams, their staff and riders,” a press release stated.
Velon have been trying to change the dynamic of the economics of cycling by shifting some of the benefits of race organisation to the teams, but it has been a contentious path. The group includes BMC, Cannondale, Lampre-Merida, Lotto-Belisol, Etixx-Quick-Step, Orica-GreenEdge, Giant-Alpecin, LottoNl-Jumbo, Team Sky, Tinkoff and Trek-Segafredo.
In 2012, the teams association AIGCP was close to a revenue-sharing deal with the Giro d’Italia organisers, but the next year, a key supporter of the deal, Michele Acquarone, was fired by RCS Sport over a financial scandal.
The partnership between Velon and the Tour de Suisse will see the teams help market the race and “deliver a stronger, more compelling story”, using exclusive live and delayed on-board footage from riders’ bikes, in addition to marketing and promotion through teams’ social media channels.
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You can read more at Cyclingnews.com