Jumbo to End Sponsorship of Professional Cycling and Speed Skating After 2024
Jumbo, the Dutch supermarket chain, has announced that it will end its sponsorship of professional cycling and speed skating teams after 2024. The company currently sponsors the Jumbo-Visma cycling and speed skating teams, which have been highly successful in recent years.
The Company’s Decision to End Sponsorship
According to the company, the decision to end sponsorship was made as part of a larger strategy shift. Jumbo plans to focus on e-commerce and expanding its online offerings. The company believes that this shift in focus requires a reallocation of resources, including its sponsorship budget.
Despite the success of the Jumbo-Visma teams, Jumbo has decided that it can no longer justify the expense of sponsoring professional cycling and speed skating. The company will continue to support both teams through 2024, but will begin winding down its sponsorship efforts after that.
The Impact on Jumbo-Visma Teams
The Jumbo-Visma teams have been highly successful in recent years, with cyclists such as Wout van Aert and Primoz Roglic winning major races. The teams have also been successful in speed skating, with athlete Sven Kramer winning Olympic medals and world championships.
The end of Jumbo’s sponsorship will undoubtedly have an impact on the teams. Finding a new sponsor with the resources to support a professional cycling or speed skating team can be a difficult task, and it remains to be seen who will step up to fill the gap.
The Future of Professional Cycling and Speed Skating Sponsorship
Jumbo’s decision to end sponsorship is a reflection of the challenges facing professional cycling and speed skating. Sponsoring a professional team can be expensive, and the return on investment is not always clear.
As more companies shift their focus to e-commerce and digital channels, it is likely that we will see fewer sponsors for professional cycling and speed skating teams. This could impact the ability of these sports to attract the best athletes and continue to grow in popularity.
Summary
Jumbo has announced that it will end its sponsorship of professional cycling and speed skating teams after 2024. The decision is part of a larger strategy shift for the company, which plans to focus on e-commerce and expanding its online offerings. The impact on Jumbo-Visma teams is uncertain, and the future of professional cycling and speed skating sponsorship is unclear. #SPORT
