Rabobank ends cycling sponsorship after 20 years

After exactly 20 years of sponsorship, Rabobank is breaking ties with cycling union KNWU next year, after the next cycling season. The bank will also no longer sponsor equestrian federation KNHS, the bank announced on Thursday according to news wire ANP.

Rabobank wants to shift focus to local sports sponsorship. "With this we want to literally get even closer to our customers", Heleen Crielaard, in charge of sponsorship at the bank, said to ANP. She added that both the cycling and equestrian sports can still count on Rabobank sponsorship on their way to the Olympic Games in Rio de Janeiro next year.

KNVW director Huib Kloosterhuis regrets the decision. "The structural support of Rabobank accounted for cycling as a whole. Nevertheless we regret that this partnership is coming to an end."

Earlier this week the bank announced that another Rabobank 9 thousand jobs will be phased out by 2020.