Bjarne Riis would like to return to the sport of cycling and according to Ekstra Bladet, the former Tour de France winner is currently trying to buy back the Tinkoff-Saxo team from millionnaire owner Oleg Tinkov.
The Danish publication explained that the team’s budget is estimated to be more than 120 million kroner per year, about 16 million euro. And thanks to his relationship with Saxo Bank, he should be able to pay that sum.
In December 2013 it was confirmed that team sponsor Oleg Tinkov had bought the team from Riis for a reported sum of approximately €6 million, with Riis continuing as team manager on a three-year deal worth €1 million per year. And in March 2015 the team confirmed that Riis had been removed from team management due to differences between him and Tinkov.
The Russian oligarch has responded to the news to Cyclingnews. He denies selling his team with Riis. "I don't know what crazy Danish journalists are up to. It must be obsession dream for Riis to buy my team back. Anything has its price and if Riis and his backers come with the right price I would definitely consider it based on ROE [Return on Equity -ed] base. I still believe that cycling can be a business."
Currently, this team has been registered for the 2016 WorldTour under the name Tinkoff as Saxo Bank still haven't extended their contract.
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