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British Cycling revises contract with HSBC to cover Tokyo Games

(Photo by Dean Mouhtaropoulos/Getty Images)

British Cycling will retain global bank HSBC as a sponsor for another year after signing a new contract.

In February, it was thought the sponsorship would conclude after the 2020 Olympic and Paralympic games in Tokyo as the company exercised a break clause in its main sponsor contract with the governing body. The deal had been due to run from 2017 and 2024 and was worth between £2.5m (€2.7m/$3.2m)-£3m per year.

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