PxPixel
Get accused of dope-crimes? Lose $10m team funding - BikeBiz

Get accused of dope-crimes? Lose $10m team funding

Spanish insurance company Liberty Seguros has today terminated its sponsorshop with the pro cycling team of the same name. Team boss Manolo Saiz was detained by police earlier in week following a Spanish dope investigation. Saiz was released but the detention was too much for the insurance company, still smarting after the November 2005 suspension of Liberty Seguros rider Roberto Heras.
Author:
Publish date:

A statement from the insurance company said:

"As sponsors, Liberty Seguros have always wanted to promote a culture of fair play and zero tolerance with respect to doping. In November 2005 after the suspension of a rider [Roberto Heras] for doping we made our contract one of the most rigourous with regard to this subject.

"The implications and consequences of the detention of Manolo Saiz are highly worrying; they damage our name and the name of cycling. We have cancelled our agreement with the owners of the team and will respect outstanding financial obligations."

The sponsorship contract was believed to be worth 8 million euros, $10.2m, a year.

Featured Jobs

the cycle hub

Showroom Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Tuesday 26th June 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

CRC_Logo_620x349-1

Bike Technician

Chain Reaction Cycles I Ballyclare I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018

Canyon_Logo_1(1)

Brand Content Writer

Canyon Bicycles GmbH I Koblenz, Germany I Salary: Up to €38,000 I Date Published Tuesday 3rd July 2018

CRC_Logo_620x349-1

Retail Sales Advisor

Chain Reaction Cycles I Belfast I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018