Telefónica Seeks Exit From €25 Million Movistar Deal as Cycling Sponsorship Costs Rise
Updated
Updated · Bloomberg · Jun 12
Telefónica Seeks Exit From €25 Million Movistar Deal as Cycling Sponsorship Costs Rise
1 articles · Updated · Bloomberg · Jun 12
Summary
Telefónica is exploring ways to cut its Movistar Team commitment, including selling the sponsorship contract or bringing in partners to share the cost, according to people familiar with the matter.
The review centers on a deal worth about €25 million a year that includes naming rights for the team and runs through 2029.
Rising costs in top-tier road cycling are driving the move, which is part of a broader review of the Spanish carrier’s marketing spending.
Any change would affect one of the sport’s premier championship teams and could reshape how Telefónica maintains its long-running presence in cycling.