Russian banking mogul Oleg Tinkov has assumed ownership of the Saxo-Tinkoff team and Riis Cycling, the team confirmed in a press conference on Monday in London. Tinkov, who was set to depart as a co-title sponsor of the Danish team at year’s end has instead taken control of the UCI ProTeam from now former owner Bjarne Riis and will change its ownership group to Tinkoff Sport.
The ownership transfer is effective immediately and Tinkov is the sole owner. The team will begin the 2014 season as Tinkoff-Saxo. Tinkoff Credit Systems Bank is one of Russia’s most prominent credit card companies.
Despite appearing at odds with Tinkov during a 2013 season that saw disappointing results at the Tour de France, Alberto Contador took part in the press conference and is expected to stay on at the team.
“I believe this day is a great day for my team and I will say it is actually a day I have been dreaming of for a very long time. I’ll say years. And I look forward to this because it shows I have done some right things, some good things for this sport,” said Riis. “I am happy to announce that Oleg Tinkov will be the new owner of the team.”
Riis said that he would continue as the team’s general manager for “at least three years.”
Tinkov previously owned the Tinkoff Credit Systems team in 2007-08. That squad grew into Katusha after Tinkov’s departure.
“It’s my private money and it’s my passion,” said Tinkov. “Finally, my dream comes true. I have my top level team. I have Bjarne, the top sport director, and I have the best rider (Contador).”
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via VeloNews.com http://velonews.competitor.com/2013/12/news/tinkov-takes-control-of-saxo-team-riis-cycling_310371
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