INEOS seeks second sponsor despite securing Netcompany

INEOS recently secured a new title sponsor with the Danish software and IT company Netcompany, but that does not mean the British team is no longer looking for additional backers. The team hopes to welcome a second sponsor.

This was confirmed by Tim Hill, the financial director of the British team, in the podcast Leaders Worth Knowing. "We are looking for an additional sponsor. This does not mean that INEOS has lost interest in cycling. Jim Ratcliffe (the owner of the British chemical company, ed.) is a big cycling fan and a great supporter of the sport," said Hill.

With an extra sponsor, the squad featuring riders like Thymen Arensman and Filippo Ganna aims to replace the company INEOS – which is currently still acting as the second sponsor. This was reported by Ciclo21. The British chemical company plans to cut costs in the short term, which will involve scaling back its investments in cycling.

With Netcompany as the new partner, the team already has big ambitions. "This is more than a sponsorship. It is a partnership with a purpose. It brings long-term stability and gives us the platform to invest in performance, build a foundation to win and keep winning," said Sir Dave Brailsford, team manager and sports director, at the announcement.

"Ultimately, it is about creating the conditions to win the Tour de France," Brailsford is ambitious for the coming years. "This is an important moment for us and marks the beginning of a new chapter."

What is the role of TotalEnergies?
It is still unclear how much money TotalEnergies, a sponsor of the team since last year, will contribute in the coming years. The French energy and petroleum company is currently also active as the title sponsor of the eponymous cycling team Team TotalEnergies. This agreement runs until the end of 2026.