HSBC UK has been confirmed as the lead partner of British Cycling, replacing the broadcaster Sky, which has sponsored the organisation for the past eight years.
The partnership with the financial institution lasts a similar term, will commence on 1 January next year, and also includes Scottish Cycling and Welsh Cycling.
As with the Sky deal, it will encompass elite events and the Great Britain Cycling Team through to supporting grassroots initiatives.
Ian Drake, British Cycling CEO, described it as “a huge moment for cycling in Great Britain.”
He said: “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.”
HSBC Bank plc’s chief executive, António Simões, commented: “We are extremely proud to be working in partnership with British Cycling.
“Successes at the Olympics and Paralympics in both London and Rio have put cycling well and truly on the map and we are looking to help build on that legacy to make a real difference from grass roots cycling all the way up to those representing Great Britain at the very highest level.
“Our ambition is for this to become a true partnership that benefits every family across Great Britain.”
The final event in the popular closed-road, city-centre Sky Ride series took place in York earlier this month, while today saw the inaugural HSBC UK BikeFest in Birmingham, with Sir Chris Hoy in attendance.
The six-time Olympic champion 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.”
While there’s no confirmation yet of whether other cities will be playing host to an HSBC UK BikeFest once the partnership with British Cycling begins in the new year, it does seem a logical step.
Also present at the launch were Jason Kenny and Laura Trott, who feature in this video along with Hoy, Drake and Simões who give their further thoughts on the new partnership.
Simon has been news editor at road.cc since 2009, reporting on 10 editions and counting of pro cycling’s biggest races such as the Tour de France, stories on issues including infrastructure and campaigning, and interviewing some of the biggest names in cycling. A law and languages graduate, published translator and former retail analyst, his background has proved invaluable in reporting on issues as diverse as cycling-related court cases, anti-doping investigations, and the bike industry. He splits his time between London and Cambridge, and loves taking his miniature schnauzer Elodie on adventures in the basket of her Elephant Bike.