Cannondale-Drapac took a step toward securing its financial future on Friday as it announced a new partnership with digital media company Oath, the parent company of several major media brands including HuffPost, Yahoo, AOL, Engadget, and TechCrunch.
Oath will add its own branding, or possibly that of one of its media subsidiaries, to Cannondale’s kit and team vehicles beginning in 2018, but will not be the presenting sponsor. Slipstream CEO Jonathan Vaughters told VeloNews that one of the company’s subsidiaries may end up showing up on the team’s kit. The financial details of the deal were not disclosed.
As part of the partnership, Oath and the team will produce and distribute video and other media content from inside the world of professional cycling.
“This partnership will allow us to open up the team in terms of content well beyond what most of the world audience sees,” Vaughters said.
Vaughters has been open about his team’s search for a sponsor to secure its future in the peloton this year, writing a story for Business Insider and speaking with The Wall Street Journal. Cannondale rider Rigoberto Urán is third in the general classification at the Tour de France, 29 seconds behind leader Chris Froome (Sky) — a podium finish could help in the organization’s search for more sponsor dollars.