February 27/12 11:30 am - UCI Reports Pro Cycling is Financially Healthy
Posted by Editoress on 02/27/12
The UCI has issued a statement that professional men's cycling is financially healthy, with a report by their auditor Ernst and Young revealing that team budgets have increaed 36.5% since 2009. The number of teams has remained pretty much the same, at 40 for 2012 versus 39 in 2009, however, the total budget for the ProTeam and Pro Continental squads has increased from 235 million Euros (approximately $308 million Canadian) to 321 million Euros ($421 million Canadian) in that same period. Average salaries for ProTeam riders have gone from 190,000 Euros ($249,000 Canadian) to 264,000 Euros ($346,000 Canadian).
The UCI statement:
While the number of men's professional cycling teams has remained relatively stable over the last few years, their total budgets have increased by 36.5% since 2009, reveals a report from auditors Ernst & Young.
This result shows that cycling is in a healthy position and resisting the effects of the current global economic downturn.
In 2009, the total budget for the 39 professional men's teams was 235 million euros. In 2012, there are 40 professional teams (18 UCI ProTeams and 22 UCI Professional Continental Teams) with a total budget of 321 million euros, according to the Ernst & Young report on the economic situation of the professional peloton. This represents an increase of 36.5%.
These figures show that the investment by sponsors continues to increase as they demonstrate their support for the sport of cycling. In 2012, there are 61 principal sponsors for the 40 professional teams, providing 73% of the teams’ revenue. This figure increases to 95% when grouped with the remaining sponsors.
In a similar vein the average annual salary of a rider with a UCI ProTeam has risen from 190,000 euros in 2009 to 264,000 euros in 2012.
UCI President Pat McQuaid commented: “It is very pleasing to see that the men's professional cycling is prospering in these difficult times. Most of the cyclists within the professional peloton can live very well, or at least comfortably, on their salaries thanks to the support of sponsors who invest in this sport. These sponsors are attracted by the extremely good visibility cycling provides them throughout the year.”