What Does Red Bull’s 51% Stake in Bora-Hansgrohe’s Parent Company Mean for International Cycling?
January 31, 2024
Professional cycling almost saw two of its largest teams merge and compete, as on Soudal-Visma. The spark fizzled out in this deal, but come 2024, the face of cycling may just be undergoing its first major change. Energy drink and marketing mogul Austrian company Red Bull is all set to take a 51% controlling stake in RD Pro Cycling GmbH & Co. KG and RD Beteiligungs GmbH.
It is the parent company of the cycling team Bora-Hansgrohe, and the deal that was briefly touched upon at the start of the year will finally take place. The news came through a press release from the team, which said the deadline for objections to the acquisition was January 26. With the Federal Competition Authority and Federal Cartel Prosecutor raising no objections, the deal is approved. ES