BORA - hansgrohe share statement on Red Bull deal - "Red Bull strives to complement the team's portfolio of existing long-term main sponsors, who will remain on a long-term basis"

News broke out today that Red Bull, one of the world's most famous sports drink brands, has bought 51% of the German team BORA - hansgrohe. Slight collaboration now leads to a more direct involvement of the brand within the team, and we have the first insight from the team itself.

"Red Bull is planning to expand its involvement in road cycling and is aiming for a partnership with BORA - hansgrohe. By becoming a partner in Team Manager Ralph Denk's operating company, Red Bull strives to complement the team's portfolio of existing long-term main sponsors, who will remain on a long-term basis," the team shared. "The planned joint venture has been notified to the relevant antitrust authority."

However, it is yet to confirm in what way this collaboration will happen and if so, under what terms. Hence, the team remains rather silent on the topic for the time being. "We ask for your understanding that we will not comment further on the planned joint venture, as we do not wish to anticipate the ongoing review by the Austrian antitrust authority."