NTT Pro Cycling and Virtu Cycling have signed a letter of intent that sees the Danish business immediately acquire a minority share of the operational company of the South African cycling team.
The partnership is built on a shared vision to continue the development of the team along with its commitment to showcase the impact that bicycles have in changing people’s lives. It will also enable Virtu Cycling to further strengthen and develop its brand promise; to create unique cycling experiences.
NTT Pro Cycling has today announced that it has joined forces with Virtu Cycling, a Danish group of cycling-related activities, in a newly established partnership, effective immediately.
The parties have agreed a deal which sees Virtu Cycling invest in one third of the shares of the operational company behind NTT Pro Cycling. Together, the partners will seek to continue the development of the team from both a sporting and an organizational perspective, with a view to long term sustainability and success into the future.
This partnership naturally sees the continued commitment and support of the Qhubeka Charity, which incredibly distributed its 100 000th bicycle in 2019.
Virtu Cycling is co-owned by former Tour de France winner, Bjarne Riis, and businessmen and entrepreneurs, Lars Seier Christensen and Jan Bech Andersen.
Riis will take on the role as Team Manager of NTT Pro Cycling and will build on its sporting development, together with its sporting staff and the technology-driven approach to performance.
Bjarne Riis, Virtu Cycling co-owner and Team Manager, NTT Pro Cycling:
“This is a proud moment for our organization, Virtu Cycling, and I’m really excited by this partnership and its potential. Together, I believe we can develop one of the world’s best cycling teams built on being performance and technology-driven, combined with our many years of experience from the World Tour.
“We have had some thorough and fruitful talks and meetings with Doug Ryder on the team’s future and potential. I’m really looking forward to our collaboration and to take on the sporting leadership of the team in this new setup. I have nothing but admiration for what Doug has built and achieved with this team starting on continental level onwards to become a WorldTour-team, for his contribution to cycling and his work and support for the Qhubeka Charity. Together, I believe we can take the team to the next level and make it a team that everybody – riders and staff – want to be a part of.”
Douglas Ryder, founder and Team Principal, NTT Pro Cycling:
“Today is yet another significant moment in the history of this team, and indeed its future. The expertise and breadth of experience that Bjarne Riis will provide in supporting the sporting development through our unique technology-driven performance approach will be hugely significant, and further add on to what we have built with our title sponsor, NTT Ltd.”
“I believe this partnership will benefit the entire team to help them achieve great results which in turn helps shine a spotlight on our partners, our way of working as a team but most importantly our commitment in support of the Qhubeka Charity.
“Danish cycling is in a very strong place and this partnership, together with the foundation that we already have in place, I believe will help develop the team to become one of the best in the world in the years to come. That is our ambition.”
Anders Gram, Group CEO, Virtu Cycling:
“At Virtu Cycling, we have had talks and negotiations with other teams in terms of building a professional cycling team but decided to take the time needed to investigate our options thoroughly. As seen from our perspective, the potential in the partnership with NTT Pro Cycling and the match in philosophy was by far the most compelling to us and therefore the one, we chose.
“This partnership enables us to further develop our group of companies and to live our core story of creating unique cycling experiences, whether it’s traveling, business networking, or high-end apparel.”
Ruth Rowan, Global Chief Marketing Officer, NTT Ltd:
“We’re delighted to welcome Virtu Cycling to the fold. As title sponsor, we help NTT Pro Cycling leverage technological innovation, and combine it with athletic performance, to realize its ambition of being ranked among the top 10 cycling teams in the world. By working with world-class industry experts at Virtu Cycling, as well as a former Tour de France champion on the global cycling stage, we believe that together we will do great things. It’s an extremely exciting time for NTT Pro Cycling, as we all work towards achieving the one ultimate goal of creating a truly unique team that is focused on being among the best in the world, whilst riding to help make the world a better place.