Window manufacturer Deceuninck has indicated its commitment to retaining its title sponsorship of UCI World Tour cycling Deceuninck-QuickStep.
Earlier this month, the company’s chief executive Francis Van Eeckhout stated that discussions were taking place with team manager Patrick Lefevre regarding the possibility of reducing Deceuninck’s financial comittment to the team after the 2020 cycling season was suspended.
However, Van Eeckhout told Het Laatste Nieuws the organisation would be fulfilling its contractual obligations with the team that it signed with in 2018. He said: “We are going to carry out our three-year contract. In the hope that no other virus will flatten the world in 2021.”
He also suggested there was a possibility the contract would be extended further, but tempered this with caution given the impact of Covid-19 on the business.
He remarked: “Going forward, we then have to decide: shall we continue or not? Does this yield sufficient added value for us? The current economic reality calls for caution.
“Of course we want to recoup what we spend on sponsorship. The question is whether that will be the case in 2022 and beyond.”
Elsewhere in road cycling, Polish shoe company’s CCC title sponsorship of the CCC Pro Team, also competing in the UCI World Tour, appears uncertain after its financial results for the first quarter of 2020 were revealed.
CCC announced a loss of PLN340m (€75m) compared to the same period of 2019.
Bankier.pl reports that CCC may have to sacrifice its sport sponsorship contracts in order to restructure its finances.