Cofidis extends cycling sponsorship and set to launch women's team
Cofidis, the French financial services firm and prominent cycling sponsor has extended its sponsorship deal with the eponymous team, and is planning to launch a women's outfit.
Cofidis, which has been involved in cycling for a quarter of a century, has prolonged the agreement for Cofidis Solutions Credit, which competes on the top-tier UCI WorldTour, until 2025.
The team plans to increase the budget of the team by €1.5 million ($1.8 million) per year.
The women's team is to be rolled out, with a budget of €1 million per annum, next year.
Thierry Vittu, chairman of Cofidis Competition, said: “We will have a women’s team as part of the Cofidis group from 2022. It won’t be this year because we need time to put it together and gather the resources, but in 2022 we will certainly have one."
Cofidis will become the eighth men’s WorldTour team to have an affiliated women’s squad.
Meanwhile, the Vuelta a Espana, the top Spanish road race, has unveiled a renewed sponsorship deal with Shimano, the Japanese cycling brand.
The three-yeaer extension runs to 2024.
Shimano has collaborated with Unipublic, the organiser of the Vuelta, for over 20 years, and will continue to be the official provider of technical service and assistance at the event.
The brand is also a partner of the two other Grand Tours - the Tour de France and Giro d'Italia.
Elsewhere, the organisers of the combined UCI Cycling World Championships in 2023 have announced two executive appointments.
Paul Cole joins as senior project manager and Cameron Fraser as senior commercial manager for the event in Glasgow.
Cole brings experience from work on the Glasgow 2014 Commonwealth Games and multisports 2018 European Championships, held largely in the Scottish city, while Cameron was most recently at London Marathon Events, the organiser of the famous mass-participation running race and other events.
The 2023 World Championships will be the first to combine all the cycling disciplines at one event.