NTT Pro Cycling and Virtu Cycling have signed a letter of intent that sees the Danish business immediately acquire a minority share of the operational company of the South African cycling team.
The partnership is built on a shared vision to continue the development of the team along with its commitment to showcase the impact that bicycles have in changing people’s lives. It will also enable Virtu Cycling to further strengthen and develop its brand promise; to create unique cycling experiences.
NTT Pro Cycling has today announced that it has joined forces with Virtu Cycling, a Danish group of cycling-related activities, in a newly established partnership, effective immediately.
The parties have agreed a deal which sees Virtu Cycling invest in one third of the shares of the operational company behind NTT Pro Cycling. Together, the partners will seek to continue the development of the team from both a sporting and an organizational perspective, with a view to long term sustainability and success into the future.
This partnership naturally sees the continued commitment and support of the Qhubeka Charity, which incredibly distributed its 100 000th bicycle in 2019.
Virtu Cycling is co-owned by former Tour de France winner, Bjarne Riis, and businessmen and entrepreneurs, Lars Seier Christensen and Jan Bech Andersen.
Riis will take on the role as Team Manager of NTT Pro Cycling and will build on its sporting development, together with its sporting staff and the technology-driven approach to performance.
Bjarne Riis, Virtu Cycling co-owner and Team Manager, NTT Pro Cycling:
“This is a proud moment for our organization, Virtu Cycling, and I’m really excited by this partnership and its potential. Together, I believe we can develop one of the world’s best cycling teams built on being performance and technology-driven, combined with our many years of experience from the World Tour.
“We have had some thorough and fruitful talks and meetings with Doug Ryder on the team’s future and potential. I’m really looking forward to our collaboration and to take on the sporting leadership of the team in this new setup. I have nothing but admiration for what Doug has built and achieved with this team starting on continental level onwards to become a WorldTour-team, for his contribution to cycling and his work and support for the Qhubeka Charity. Together, I believe we can take the team to the next level and make it a team that everybody – riders and staff – want to be a part of.”
Douglas Ryder, founder and Team Principal, NTT Pro Cycling:
“Today is yet another significant moment in the history of this team, and indeed its future. The expertise and breadth of experience that Bjarne Riis will provide in supporting the sporting development through our unique technology-driven performance approach will be hugely significant, and further add on to what we have built with our title sponsor, NTT Ltd.”
“I believe this partnership will benefit the entire team to help them achieve great results which in turn helps shine a spotlight on our partners, our way of working as a team but most importantly our commitment in support of the Qhubeka Charity.
“Danish cycling is in a very strong place and this partnership, together with the foundation that we already have in place, I believe will help develop the team to become one of the best in the world in the years to come. That is our ambition.”
Anders Gram, Group CEO, Virtu Cycling:
“At Virtu Cycling, we have had talks and negotiations with other teams in terms of building a professional cycling team but decided to take the time needed to investigate our options thoroughly. As seen from our perspective, the potential in the partnership with NTT Pro Cycling and the match in philosophy was by far the most compelling to us and therefore the one, we chose.
“This partnership enables us to further develop our group of companies and to live our core story of creating unique cycling experiences, whether it’s traveling, business networking, or high-end apparel.”
Ruth Rowan, Global Chief Marketing Officer, NTT Ltd:
“We’re delighted to welcome Virtu Cycling to the fold. As title sponsor, we help NTT Pro Cycling leverage technological innovation, and combine it with athletic performance, to realize its ambition of being ranked among the top 10 cycling teams in the world. By working with world-class industry experts at Virtu Cycling, as well as a former Tour de France champion on the global cycling stage, we believe that together we will do great things. It’s an extremely exciting time for NTT Pro Cycling, as we all work towards achieving the one ultimate goal of creating a truly unique team that is focused on being among the best in the world, whilst riding to help make the world a better place.
About NTT Pro Cycling:
Founded in 2007, NTT Pro Cycling (formerly Team Dimension Data for Qhubeka) became the first-ever African cycling team to gain a WorldTour license, in 2016. With the support of our headline sponsor and technology innovation partner, NTT, we are the most purpose-driven, performance-led, and technology-enabled team in pro cycling today. Our ambition is to continue to race at the highest levels in world cycling, to develop riders to realise their full potential and to inspire and motivate people across the African continent to ride bicycles. We have offices in South Africa, Denmark, the Netherlands and Italy. We also ride to raise awareness for Qhubeka, a global charity operating in South Africa, through our #BicyclesChangeLives campaign. For more information: https://nttprocycling.com
About Virtu Cycling:
Virtu Cycling is a family of cycling lifestyle brands and companies. The portfolio counts the biggest cycling network in Denmark, Virtu Business Club, a travel agency, Virtu Travel, the bike clothing, equipment and gear company Virtu Cycling Gear and Virtu Villas – a Tuscan hotel Villa Pacini and boutique hotels in Mallorca. From today, Virtu Cycling is also a minority shareholder of the World Tour team NTT Pro Cycling and its development team. Through our heritage and attachment to pro cycling, we create unique cycling experiences. Former World Class rider and manager Bjarne Riis is part of the owner group together with Danish businessmen Lars Seier Christensen and Jan Bech Andersen. The Group CEO of Virtu Cycling is Anders Gram. For more information: www.virtucycling.com
About NTT Ltd:
NTT Ltd. is a leading global technology services company. We partner with organizations around the world to shape and achieve outcomes through intelligent technology solutions. For us, intelligent means data-driven, connected, digital, and secure. As a global ICT provider, we employ more than 40,000 people in a diverse and dynamic workplace that spans 57 countries, trading in 73 countries and delivering services in over 200 countries. Together we enable the connected future.
Visit us at our new website: www.hello.global.ntt
Qhubeka is a charity that moves people forward with bicycles. People earn bicycles through our programmes, improving their access to schools, clinics and jobs.
A bicycle is a tool that helps people to travel faster and further, and to carry more. In the face of extreme and persistent poverty, bicycles can change lives by helping to address socioeconomic challenges at the most basic level – helping people to get where they need to go.