Deutsche Telekom AG has stopped its sponsorship of T-Mobile Team, effective immediately, it announced Tuesday afternoon. However, High Road Sports Inc., the team management company, said that "its elite men's and women's cycling teams will continue racing in 2008 after T-Mobile has ended its engagement. The teams will now be known as 'Team High Road'."
Telekom had sponsored the team, under the names Team Telekom and T-Mobile Team, since 1991. "We arrived at this decision to separate our brand from further exposure from doping in sport and cycling specifically. This was a difficult decision given our long history of support for professional cycling and the efforts of Bob Stapleton in managing the team in 2007," said Deutsche Telekom Board member and CEO of T-Mobile International Hamid Akhavan. "We have an obligation to our employees, customers and shareholders to focus our attention and resources on our core businesses."
Telekom had sponsored the team, under the names Team Telekom and T-Mobile Team, since 1991. "We arrived at this decision to separate our brand from further exposure from doping in sport and cycling specifically. This was a difficult decision given our long history of support for professional cycling and the efforts of Bob Stapleton in managing the team in 2007," said Deutsche Telekom Board member and CEO of T-Mobile International Hamid Akhavan. "We have an obligation to our employees, customers and shareholders to focus our attention and resources on our core businesses."
The team's sponsorship contract was set to run until December 31, 2010.
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