Milram considering an end to cycling sponsorship
German milk-product manufacturers Milram is considering an early exit from its multi-million Euro sponsorship of the professional cycling team, a German newspaper report claimed on Thursday. According to the Frankfurter Allgemeine, the company has sought legal advice about whether it can finish its sponsorship agreement before the contract expires in 2010. The current sponsorship contract is reported to be worth eight million Euros ($10.3 million) a year.
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By Agence Presse France
Photo: Graham Watson
German milk-product manufacturers Milram is considering an early exit from its multi-million Euro sponsorship of the professional cycling team, a German newspaper report claimed on Thursday.
According to the Frankfurter Allgemeine, the company has sought legal advice about whether it can finish its sponsorship agreement before the contract expires in 2010.
The current sponsorship contract is reported to be worth eight million Euros ($10.3 million) a year.
Milram is now the only professional cycling team in Germany after mineral-water distributor Gerolsteiner refused to renew its contract and then closed shop months early in light of the Tour de France positive of Bernhard Kohl.
German cycling has already been rocked by the news next year’s Tour of Germany has been cancelled in response to a series of high-profile failed drugs tests.
