Gerolsteiner GmbH, a German mineral water company is inclined to cease its long-time promotion of professional cycling. The Company is reluctant to renew its accord when it expires at the end of 2008. Sponsoring the team since 1998, has invested nearly $12 million in the sport annually.
Company spokesman Stefan Goebel said:
The recent doping scandals aren’t the reason for the decision. They did, however, contribute to the temporary devaluation of cycling as a communications platform.
Professional cycling has however been beleaguered by non-ceasing doping scandals over the past few years. With sponsors gradually distancing themselves, has led the sport in a state of turmoil.
Regardless of sever checks and controls the 2007 Tour de France was totally marred by doping scandals. The Cofidis team based in France, withdrew from the tour after Cristian Moreni an Italian rider for the team, failed a dope test. Team Astana also pulled out of the event after its lead rider, Alexandre Vinokourov tested positive for a banned blood transfusion. The tour got even more tattered as the leader Rasmussen was kicked off by the Rabobank team. Last month, Discovery Channel was also determined to disband itself along with the Unibet.com team.
Investing in a team deeply involved in international cycling’s doping scandals, T-Mobile formally announced to continue to sponsor its cycling team until 2010.
Via: Bloomberg
