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SBD Global/November 4, 2013/Franchises

Riis Cycling Sponsor Saxo Bank Denies Sale Of Team To Businessman Oleg Tinkov

Riis Cycling sponsor Saxo Bank has "denied reports in Italian media that they have been sold to Russian businessman Oleg Tinkov," according to SKY SPORTS. Italy's Gazzetta dello Sport reported on Sunday that Russian businessman Oleg Tinkov had completed a €7M ($9.6M) takeover from "long-time owner Bjarne Riis's company, Riis Cycling." However, Saxo Bank spokesperson Allan Jorgensen said, "Normally we do not go out and comment on specific rumours, but in this case I would like to emphasize that we have not sold to Oleg" (SKY SPORTS, 11/3).

TINKOV 'CONTINUING TO NEGOTIATE': The EFE reported Tinkov, through his lawyer, Stefan Feltrin, has "denied paying to take control of the team." Tinkov is, however, "continuing to negotiate with Riis and did not rule out buying one of the other big teams." Feltrin said, "It is false to say that we have bought Riis's team. Nothing has been signed and we are still talking with some teams about possible projects." Gazzetta dello Sport said that "Tinkov dreams of being the Roman Abramovich of cycling, having already tried unsuccessfully to buy Cannondale cycling a month ago" (EFE, 11/3).
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