British Cycling Confirms Hsbc Deal

British Cycling has announced HSBC will replace Sky as its new lead partner from next year.

The eight-year deal will see the financial services company’s UK arm replace Sky, which has partnered with British Cycling since 2008, as a sponsor through to the Olympic Games in 2024.

HSBC will work with the governing body, as well as Scottish Cycling and Welsh Cycling, across all areas of the sport, from grassroots to elite-level events.

Financial terms of the deal were not disclosed, however, current sponsors Sky puts in around £10m every four years under its sponsorship agreement, which will run out at the beginning of 2017.

British Cycling, chief executive, Ian Drake said: “This is a huge moment for cycling in Great Britain. Working together with HSBC UK, we will provide the encouragement and opportunities to make cycling the most popular activity and sport of choice in Great Britain. We want to help transform an increasingly inactive and unhealthy nation through cycling.”

Sir Chris Hoy said: “We’ve had a great eight years with Sky and now with HSBC UK making a long term commitment to British Cycling, it’s going to help anyone who wants to get on a bike to have fun, get fit, go to work or school, or compete right up to the very highest levels of international sport.”

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