New Title Sponsor for the Phonak Cycling Team
iShares comes on as main sponsor in 2007 -2009
What has been in the making for quite some time has now become a fact:
Today’s Presenting Sponsor iShares will become the Title Sponsor of the current
Phonak Cycling Team from 2007 onwards. ARcycling AG, licensee and operator of
the only Swiss ProTour team, has signed a three-year contract (2007 – 2009) with
Barclays Global Investors N.A., iShares' parent company headquartered in San
Francisco. As a result, "iShares" will become the new team name at the start of
2007. The parties have agreed not to name the amount of the new title sponsor's
"With iShares we have a new title sponsor who is exactly in line with what we
had in mind. We wanted a partner who is a global player, enthusiastic about
cycling and the opportunities the sport offers to leverage its brand in a
variety of ways,” says ARcycling AG founder and team owner Andy Rihs.
Speaking for his part, Lee Kranefuss, iShares CEO, said, "I'm extremely pleased
for the iShares brand to be associated with such a well-regarded and well-organised
ProTour team. For iShares this sponsorship represents an excellent opportunity
to further expand the visibility of our brand across Europe, which is a market
of strategic importance to us."
BMC's cooperation also extended
A partner from the very beginning, BMC will also be standing
alongside the team in future. "We also want to be part of the team with the new
title sponsor," says Andy Kessler, CEO of BMC which, in addition to being the
team's outfitter, is one of the leading Swiss companies in high-tech bikes.
"Thanks to pro cycling, BMC has made enormous progress in the last few years.
And I'm sure that the company will continue to strengthen its technological
leadership and international presence in the coming years and thus maintain its
rapid growth rate. In return, the team has the assurance that with BMC it has
the best material," Kessler adds.
iShares is the brand name for the world's largest ranges of exchange traded
funds (ETFs), which is marketed and managed by Barclays Global Investors (BGI).
BGI is one of the world’s largest investment managers with over USD 1.6 trillion
of assets under management (as at 31 March 2006) BGI pioneered index funds more
than thirty years ago and therefore brings unrivalled expertise to the
management of the assets of iShares ETFs. iShares manage over 158 funds listed
globally, totalling over USD 231.7 billion. iShares funds are available to
institutional and private investors. ETFs are index funds that are bought and
sold like ordinary shares on a stock exchange and are a tool to gain diversified
exposure to a market.